By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Al-Sisi rejects claims of militarising teachers
    Al-Sisi rejects claims of militarising teachers
    September 27, 2023
    Egypt, Switzerland discuss improving economic ties, investment opportunities
    Egypt, Switzerland discuss improving economic ties, investment opportunities
    September 27, 2023
    Egypt aims to boost private sector’s role in economic activity to 65% in medium term: Finance Minister
    Egypt aims to boost private sector’s role in economic activity to 65% in medium term: Finance Minister
    September 27, 2023
    City Farm targets $50m in sales of frozen agricultural products in American market
    City Farm targets $50m in sales of frozen agricultural products in American market
    September 27, 2023
    Smoking alternatives could reduce cigarette use, save lives: NCI study
    Smoking alternatives could reduce cigarette use, save lives: NCI study
    September 26, 2023
  • Politics
    PoliticsShow More
    Egypt denounces Houthi attack on Bahraini forces in Saudi Arabia
    Egypt denounces Houthi attack on Bahraini forces in Saudi Arabia
    September 27, 2023
    Presidential election in Egypt set for 10-12 December
    Presidential election in Egypt set for 10-12 December
    September 25, 2023
    Defence Minister meets NATO Military Committee chief
    Defence Minister meets NATO Military Committee chief
    September 25, 2023
    Egypt, Jordan, and Iraq discuss economic, political cooperation in New York
    Egypt, Jordan, and Iraq discuss economic, political cooperation in New York
    September 24, 2023
    Al-Sisi highlights opportunities for mutual benefit with China
    Al-Sisi highlights opportunities for mutual benefit with China
    September 24, 2023
  • Interviews
    InterviewsShow More
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    September 18, 2023
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    September 14, 2023
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    September 12, 2023
    India welcomes Egypt's BRICS membership: Boosting trade, investment, and access to strategic commodities
    India welcomes Egypt’s BRICS membership: Boosting trade, investment, and access to strategic commodities
    September 11, 2023
    The box office is not a measure of success: Basma Hassan
    The box office is not a measure of success: Basma
    September 6, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Maxim Investment rolls out new strategic direction
Share
Notification
Latest News
Egypt denounces Houthi attack on Bahraini forces in Saudi Arabia
Egypt denounces Houthi attack on Bahraini forces in Saudi Arabia
Egypt Politics
Al-Sisi rejects claims of militarising teachers
Al-Sisi rejects claims of militarising teachers
Business
Egypt, Switzerland discuss improving economic ties, investment opportunities
Egypt, Switzerland discuss improving economic ties, investment opportunities
Business
Egypt aims to boost private sector’s role in economic activity to 65% in medium term: Finance Minister
Egypt aims to boost private sector’s role in economic activity to 65% in medium term: Finance Minister
Business
City Farm targets $50m in sales of frozen agricultural products in American market
City Farm targets $50m in sales of frozen agricultural products in American market
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

Al-Sisi rejects claims of militarising teachers

Egypt, Switzerland discuss improving economic ties, investment opportunities

Egypt aims to boost private sector’s role in economic activity to 65% in medium term: Finance Minister

City Farm targets $50m in sales of frozen agricultural products in American market

Smoking alternatives could reduce cigarette use, save lives: NCI study

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
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Egypt denounces Houthi attack on Bahraini forces in Saudi Arabia
Egypt denounces Houthi attack on Bahraini forces in Saudi Arabia
Egypt Politics
Al-Sisi rejects claims of militarising teachers
Al-Sisi rejects claims of militarising teachers
Business
Egypt, Switzerland discuss improving economic ties, investment opportunities
Egypt, Switzerland discuss improving economic ties, investment opportunities
Business
Egypt aims to boost private sector’s role in economic activity to 65% in medium term: Finance Minister
Egypt aims to boost private sector’s role in economic activity to 65% in medium term: Finance Minister
Business
//
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?