Egyptian business tycoon Naguib Sawiris said he has made a proposal to the Governor of the Central Bank of Egypt (CBE), Tarek Amer, to establish a bank in Egypt that would focus on small and medium enterprises (SMEs). The proposal was suggested by Sawiris during a recent meeting with Amer.
Sawiris said he had already set up a similar bank in Luxemburg, and was waiting for licence to establish one in Egypt.
Sawiris made his remarks during the Hapi investment conference held yesterday, 1 April, in Egypt. He also said he was negotiating with a number of African banks to venture into investment in the financial sector in Africa.
2 April 2019