By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Egypt starts trial operation of ‘Iqat’ gold mine: Minister of Petroleum 
    Egypt starts trial operation of ‘Iqat’ gold mine: Minister of Petroleum 
    March 22, 2023
    Egypt aims to attract 30 million tourists in 2028: Tourism Minister
    Egypt aims to attract 30 million tourists in 2028: Tourism Minister
    March 22, 2023
    KOICA holds final consulting workshop on enhancement of public e-procurement project in Egypt
    KOICA holds final consulting workshop on enhancement of public e-procurement project in Egypt
    March 22, 2023
    CIB general assembly approves issuance of financial instruments worth $1bn 
    CIB general assembly approves issuance of financial instruments worth $1bn 
    March 22, 2023
    BSH Home Appliances to invest €50m in state-of-art factory in Cairo
    BSH Home Appliances to invest €50m in state-of-art factory in Cairo
    March 22, 2023
  • Politics
    PoliticsShow More
    Drought caused 43,000 deaths in Somalia in 2022: UN
    Drought caused 43,000 deaths in Somalia in 2022: UN 
    March 22, 2023
    Opinion| The Chinese dragon occupies America's place in the Middle East
    Opinion| The Chinese dragon occupies America’s place in the Middle East
    March 22, 2023
    Al Azhar University partners with Google to empower students with latest learning solutions
    Al Azhar University partners with Google to empower students with latest learning solutions
    March 22, 2023
    Irrigation Minister discusses international cooperation with UNGA President
    Irrigation Minister discusses international cooperation with UNGA President 
    March 22, 2023
    Luxor hosts conference on climate change: Shoukry
    Luxor to host conference on climate change: Shoukry
    March 22, 2023
  • Interviews
    InterviewsShow More
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    December 27, 2022
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Maxim Investment rolls out new strategic direction
Share
Notification
Latest News
Drought caused 43,000 deaths in Somalia in 2022: UN
Drought caused 43,000 deaths in Somalia in 2022: UN 
Region Politics
Opinion| The Chinese dragon occupies America's place in the Middle East
Opinion| The Chinese dragon occupies America’s place in the Middle East
Politics Opinion World
Egypt starts trial operation of ‘Iqat’ gold mine: Minister of Petroleum 
Egypt starts trial operation of ‘Iqat’ gold mine: Minister of Petroleum 
Business
Egypt aims to attract 30 million tourists in 2028: Tourism Minister
Egypt aims to attract 30 million tourists in 2028: Tourism Minister
Tourism
KOICA holds final consulting workshop on enhancement of public e-procurement project in Egypt
KOICA holds final consulting workshop on enhancement of public e-procurement project in Egypt
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Maxim Investment rolls out new strategic direction
Business

Maxim Investment rolls out new strategic direction

Shaimaa Al-Aees
Last updated: 2021/06/09 at 11:10 PM
By Shaimaa Al-Aees 4 Min Read
Share
Maxim Investment rolls out new strategic direction
SHARE

The Maxim Investment Group (MIG) has rolled out its new action plan that seeks to prioritise markets where the company can be relevant and grow sustainably in the long term.

This will also see the company work to boost its growth potential, while leveraging the value of its infrastructure, and increase agility and improve efficiency.

In a press conference on Wednesday, MIG Chairperson Mohamed Karrar said that the macroeconomic and market realities, and high competition in the market, require an increasingly demanding allocation of capital. 

If in the past the low penetration of services assured future growth, the current maturity of the market and the appearance of new competitors subject to different rules demand a highly focused strategic approach.

The changes come at a pivotal time for MIG, whose portfolio is estimated at the EGP 15bn range by Financial Consultants accredited by the Central Bank of Egypt (CBE).  

The company has grown at an exponential rate over the past decade, bringing with it operational inefficiencies as by product of a rapid growth focused strategy. 

The transformation initiative, which commenced in 2019, tackled the problems of: suboptimal performance with the objective of driving rapid change; delivering improvements in cash; working capital; and profitability. 

The roll out includes: consequential decisions in short order; rapidly modifying business models; accelerating digital transformation; seeking out new revenue streams; moving or re-thinking operational activities; entering new markets; and improving customer experiences.  

Karrar added, “The [novel coronavirus (COVID-19)] pandemic added a layer of challenges to that process, as we were forced to slow down the roll out and consider the implications on our strategic priorities moving forward.”

The COVID-19 pandemic has brought about profound change, affecting long-standing consumer behaviours and preferences, and in some cases permanently changing competitive landscapes. 

“Nevertheless, during the past two years, we have made meaningful progress and opened the door to becoming a vibrant, profitably growing company,” Karrar added.

With a plan adapted to reflect the new market realities Karrar believes that now is the time to charge through that door. The aim will be that by the end of 2022, MIG will reposition its overall cost structure to establish itself as a strong and efficient competitor. 

He further elaborated that these measures will generate, among other effects, additional revenues and an increase in operating cash flow margin by 2022. The new action plan will serve as a catalyst for the transformation of the company.

“The first initiative, launched in 2019, revolved around achieving operational efficiency, whilst the second initiative constitutes the creation of a new structure that is based on four business units, Development, Hospitality, Commercial and Retail, and finally Services,” Karrar said, “These four business lines concentrate approximately 90% in revenues and operating cash flow.”

He added that the third initiative will focus on prioritising strategic, long-term investment to secure sustainable growth and stability. The plan prioritises most investments in these four business lines, improving the products and services offered to customers, leveraging the existing infrastructure in relevant markets and with potential for growth in this new era. 

The fifth initiative responds to the need of gaining agility in the implementation of the necessary changes and providing better service to customers, while taking advantage of the scale and synergies of the group.  

You Might Also Like

Egypt starts trial operation of ‘Iqat’ gold mine: Minister of Petroleum 

Egypt aims to attract 30 million tourists in 2028: Tourism Minister

KOICA holds final consulting workshop on enhancement of public e-procurement project in Egypt

CIB general assembly approves issuance of financial instruments worth $1bn 

BSH Home Appliances to invest €50m in state-of-art factory in Cairo

TAGGED: Maxim Investment
Share this Article
Facebook Twitter Email Print
Previous Article Egypt’s Cabinet approves presidential pardon of prisoners to mark July Revolution
Next Article EGX to launch Tamayoz index methodology for SMEs market in days
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Drought caused 43,000 deaths in Somalia in 2022: UN
Drought caused 43,000 deaths in Somalia in 2022: UN 
Region Politics
Opinion| The Chinese dragon occupies America's place in the Middle East
Opinion| The Chinese dragon occupies America’s place in the Middle East
Politics Opinion World
Egypt starts trial operation of ‘Iqat’ gold mine: Minister of Petroleum 
Egypt starts trial operation of ‘Iqat’ gold mine: Minister of Petroleum 
Business
Egypt aims to attract 30 million tourists in 2028: Tourism Minister
Egypt aims to attract 30 million tourists in 2028: Tourism Minister
Tourism
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?