CFI Financial Group expands in Egypt via El Mahrousa acquisition
Leading multi-asset brokerage CFI Financial Group has continued its international expansion strategy, announcing the acquisition of Egyptian local brokerage firm El Mahrousa. The acquisition is to bolster the position of CFI Financial Group in the region while strengthening its market share.
CFI Financial Group Co-Founder and Managing Director Hisham Mansour said that the firm has taken the Egyptian market as one of the potential markets for the Group’s expansion in the Middle East and North Africa through the acquisition of the local brokerage firm El Mahrousa.
“CFI’s leading position in MENA is very strategic for us and the acquisition of El Mahrousa in Egypt comes about to solidify our position. The Egyptian market is a key market in the region and we saw we have to be there physically through a locally regulated company”, he said.
Mr. Mansour stated that CFI Financial Group is an industry-leading broker and should be present in a huge investment market like Egypt. The Group has an expansion plan and is willing to expand its presence in selective regional and international markets. Since CFI Financial Group considers Egypt to be a promising market given its very strong potential for the future, it decided to move forward with this acquisition with the aim to complete all preparations and fully launch CFI Egypt by the beginning of 2023 and start providing the best in class services to trade in the Egyptian stock market.
Egypt has proven to have one of the most dynamic growth rates in the African continent. Numbers have shown the power of Egypt’s GDP, as it is the second largest in Africa with an estimation of $403 billion in 2021. In fact, the country registered a positive growth rate during the COVID-19 crisis. Egypt has attractive incentives and benefits from a diversified economy. These factors offer high investment opportunities to investors.
CFI Financial Group noted that it has rapidly differentiated itself from its peers in the local and regional markets and succeeded in positioning itself as a forward-looking, trustworthy, dynamic, and innovative leading financial Group that has been providing top-notch trading services, while always putting the client at the heart of all its activities.
About CFI Financial Group
CFI Financial Group, a leading multi-asset broker specializing in online trading, operates globally with eight international licenses from top-tier regulatory bodies such as the FCA in the United Kingdom, CySEC in Cyprus, and the DFSA in UAE, to name a few. The group provides clients with direct access to global financial markets. CFI Financial Group has a premium position in the MENA region and is expanding in emerging markets such as LATAM and Africa.