Egypt’s “Narrative Summit – Reshaping Norms”, highlights private sector’s role in mega national projects
• Digital transformation of government services and payments is a success story; our IPO was hugely oversubscribed and attracted foreign investments: Ibrahim Sarhan
• We seek to solidify petrochemical industries in Egypt and support the country become a regional and global energy hub: Ahmed Moharram
Egypt’s Narrative Summit platform released a new episode of “Narrative Summit – Reshaping Norms” titled “The Full Edge of Egypt’s Private Mega Projects”, which highlighted the role of the private sector in developing some of the most prominent projects in Egypt benefiting from the pro-business environment and economic reforms. In exclusive interviews during the episode, Mr. Ibrahim Sarhan, Chairman and Managing Director of E-Finance Group for Financial and Digital Investments and Dr. Ahmed Moharram, Group Executive Director of ACE Moharram-Bakhoum and president of Anchorage Investments discussed how the private sector was successfully integrated into the development process and the mega projects in the country boosting Egypt’s economic potentials and luring foreign investments.
“E-Finance Group for Financial and Digital Investments has succeeded in digitizingall the government services and payments in conformity with the State’s plan for digital transformation, said Mr. Sarhan, Chairman and Managing Director of “E-Finance”.
“E-Finance IPO in Cairo stock exchange was oversubscribed 7 times with remarkable interest from foreign investors. The floating helped expand the ownership base of the company and raised the number of the share-holding investment funds. This has attracted a considerable amount of foreign investments sought by the government,” he added.
E-Finance started to diversify its investments in health, tourism, and transport sectors over the past two years, and will continue to do so in the coming two years. The company has partnered with the General Authority for Health Insurance to develop, run, and operate the technological and digital services of the health insurance sector all over the country. In the tourism sector, the company has participated in two projects related to archaeology and museums. “We have implemented the digital transformation project for museums and archeological sites in cooperation with the Ministry of Tourism and Archaeology including an electronic platform for ticket reservation online or via mobile app”, he said.
E-Finance, according to Mr. Sarhan, has contributed to the setting up of e-commerce platforms and smart card management. Moreover, the company has completed the digital financial network of the Ministry of Agriculture and the launch of the “Farmer’s Card” in cooperation with the ministry and the Central Bank of Egypt.
The Chairman and Managing Director of E-Finance Group noted that the successful contribution to the mega national projects together with the Egyptian government supports E-Finance investment standing and enables it to extend the successes of its projects in Egypt to Africa and the rest of the world.
For his part, Dr. Ahmed Moharram, Group Executive Director of ACE Moharram-Bakhoum and president of Anchorage Investments said that number of Egypt’s major national projects are now in four digits and valued at trillions of pounds, which reflect positively on the national economy.
“With more than 70 years of experience in the Egyptian market, ACE Moharram-Bakhoum Group is proud of its contribution to a massive number of national projects. Demonstrating how far the infrastructure in Egypt was developed, the projects list includes roads, airports, bridges such as Rod El-Farag Axis, the first gigantic bridge project to be entirely designed and implem…
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