The British Ambassador to Cairo has hailed the “unique investment partnership” between the UK and Egypt following a visiting delegation from the London Stock Exchange Group.
John Casson hosted a reception for the delegation in Cairo on Monday during the two-day visit which was designed to explore new ways in which to support the Egyptian economy, according to a statement from the British embassy.
“Today we open the next chapter in Britain’s unique investment partnership with Egypt as number one economic partner,” the Ambassador said.
“London’s financial markets offer Egypt unique access to deep and liquid pools of international investment capital.”
The Ambassador said that the LSE Group was in Cairo “to help more companies access the investment capital needed to build the new Egypt, and to build the capacity of the Egyptian Stock Exchange to help Egypt’s companies grow and create an economy that brings jobs, stability and a brighter future for all Egyptians”.
The LSE delegation was headed by Tom Attenborough, Head of International Business Development, Gokul Mani, Head of Primary Markets for Middle East, Africa & India and Adam Scheuer, the Manager at International Government Relations.
During their visit, they also met with the Minister of Investment and International Cooperation, Dr. Sahar Nasr, where they discussed ways to attract more investments to Egypt and ways to boost bilateral cooperation.
Mr Attenborough reiterated the longstanding links between the two countries, saying: “London Stock Exchange has a long history of supporting Egyptian issuers and is proud to reinforce economic ties between the UK and Egypt.
He noted that thirteen Egyptian companies are listed in London, and $7 billion was raised by the Egyptian government in a landmark debt issuance in London in 2017.
“London Stock Exchange is also renowned for its continued support for international SMEs through ELITE, our business support and capital raising programme and ‘Companies to Inspire’ reports, championing the fastest growing companies, including from Egypt.
“London offers issuers access to deep liquid pools of international investor capital, making the City a natural funding partner to Egypt as it continues on its transformative economic reform programme.”
Source: The National