EFG Hermes Holding — the leading universal bank in Egypt and leading investment bank franchise in Frontier Emerging Markets (FEM) — announced today that it has been featured on the Financial Times and Statista’s ranking of Africa’s fastest-growing companies in 2022.
Previously, the annual rankings featured the most innovative companies around the world while mostly covering Europe and the Americas. This is the first time the Financial Times conducts an annual ranking of Africa’s fastest growing companies, which is based on revenue growth between the years 2017 and 2020.
EFG Hermes was one of the only 10 African financial services companies listed on the ranking for the year and ranked 55th fastest-growing company in Africa. In its home market of Egypt, it also ranked the fourth fastest growing company and was the only Egyptian financial services institution listed in the ranking.
“Standing as a testament to the firm’s agility as an impact-driven financial services corporation, the ranking reflects our success in achieving business growth by providing a multitude of financial solutions and opportunities that foster growth and create long-term value for all stakeholders,” said EFG Hermes Holding’s Group CEO Karim Awad.
EFG Hermes Holding’s positive ranking is a result of exceptional performance witnessed across its Investment Banking, Securities Brokerage, Private Equity, and Asset Management Divisions, in addition to its growing Non-Bank Financial Institutions (NBFI) Platform that caters to individuals and businesses of all sizes.
Specifically in Africa, its Brokerage Division continued to rank first in Egypt. It also held the first-place position in Kenya with a 60.8% market share and fourth-place position in Nigeria with a 5.7% market share by the end of 2021.
Its investment banking division also closed 41 ECM, DCM, and M&A transactions across its FEM footprint, with an aggregate value of over $7.9bn throughout last year.
Recently, EFG Hermes Holding garnered numerous accolades in Africa as well, including ‘Best Debt Bank in Africa’ by Global Finance, ‘Best Brokerage Services’ by Africa Global Funds and ‘Best Broker in Egypt and Kenya’ by the EMEA Finance African Banking Awards in 2021.
In its home country, it was awarded ‘Best Investment Bank in Egypt’ by EMEA Finance as well as ‘Best Corporate and Investment Bank in Egypt’ by Asiamoney, during the same year.
Most notably the firm’s group CEO was amongst the 100 most powerful Arabs in 2022 by Gulf Business.
Additionally, the acquisition of a majority stake in the Arab Investment Bank in Egypt in 2021 marked a strategic entry into the rapidly growing commercial banking sector in Egypt, laying the foundation for the holding company’s transformation into a full-fledged universal bank in the country with a focus on omni-channel banking, enabling the firm to add new products and services to its roster of product offerings to provide clients with a holistic set of financial solutions for individual, retail, and corporate clients alike.