CFI Financial Group has revealed its intention to expand in four new countries within five months, bringing the total countries of operation to 14 before the end of 2023.
The company’s management revealed, in an interview with Daily News Egypt, that it provides its services in London, Larnaca, Dubai, Amman, Beirut, and Port Louis. The company will also work to attract foreign investors to the Egyptian market, in addition to providing all services related to brokerage and trading in its branches in Egypt.
Hisham Mansour, CEO of the company, said that Egypt was the 10th country in which CFI expanded.
CFI Financial Group operates globally with 8 international licences from top-tier regulators such as the FCA in the UK, CySEC in Cyprus, and the Dubai Financial Services Authority in the UAE, and is currently expanding into emerging markets.
Mansour pointed out that strengthening the strategic and leading position in the Middle East and North Africa region is an important matter for the company, as the acquisition process will consolidate CFI’s position within a huge investment market, as the Egyptian market is a major market in the region, and he also considered that CFI must have a presence effectively localized through a locally licensed company.
According to Mansour, CFI is a leading broker in the field of trading with an expansion plan, and it is ready to strengthen and expand its presence in selective regional and international markets, as the Egyptian market is considered a promising market, due to its promising potential in the future, so it decided to launch CFI in Egypt at the beginning of 2023 and start providing the best trading services on the Egyptian Exchange.
He mentioned that Egypt enjoys investment incentives and attractive factors in its diversified economy, which provides investors with unparalleled investment opportunities.
He added that the company’s plan in Egypt includes the opening of a number of new branches in Egypt after the opening of the Cairo and Alexandria branches, and aims to open branches in the cities of Port Said and Mansoura to reach the largest possible number of customers.
CFI Egypt launched its electronic trading application, and the application provides a number of trading services in stocks and bonds, margin buying, and same-session trading, while the company plans to obtain a promotion license and underwriting coverage.
Mansour explained that the application provides research coverage services to investors, in its technical aspect, and work is underway to launch a work team for financial analysis during the coming period.
Sameh Al-Azab, Managing Director of CFI Egypt, said that the group entered the Egyptian market through the acquisition of a local Egyptian brokerage firm, El Mahrousa, last November, and raised the company’s capital from EGP 5m to EGP 50m, subject to increase during the coming period.
He added that the company is considering adding a large number of products during the coming period, according to the needs of the Egyptian market, expecting strong competition with the top ten in the Egyptian market, and seizing a large market share during the coming period.
CFI Group launched its operations in Egypt at the end of last week, to be an integrated investment platform that provides all financial services.
