Online trading services provider CFI Financial Group today announced its expansion in Egypt through the acquisition of Egyptian local brokerage firm “El Mahrousa”.
In the official press release shared with LeapRate, the broker stated that with this acquisition it aims to bolster its position in the region and strengthen its market share.
CFI Financial Group Co-Founder and Managing Director Hisham Mansour highlighted that the Egyptian market is one of the potential markets for the Group’s expansion in the Middle East and North Africa.
Egypt has a dynamic growth rate with numbers showing that its DGP is the second largest in Africa with an estimation of $403 billion in 2021. The country’s attractive incentives and benefits from a diversified economy are among the factors that offer high investment opportunities to investors, according to the Group.