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English
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| Number of pages / Number of words: |
3 / 739 |
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"There is too much concentrated lending in the Egyptian banking sector because there are so few eligible companies to lend to," says a foreign banker. "This is forcing the larger companies to look elsewhere for capital."
And, with privatisation slowing in the past 12 months, the Egyptian Stock Exchange and the country's growing investor base are hungry for new listings...
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A handful of publicly listed stocks accounts for a large share of the market's turnover despite the fact more than 800 companies are listed.
Furthermore, many privately held companies are faring less well than the Mansours and the Ghabbours. Dr Negad Shaarawi, chairman of Glaxo Wellcome in Egypt, says Egypt's pharmaceutical sector faces big hurdles in achieving
competitiveness ahead of Egypt's Uruguay Round commitment to introduce intellectual property laws in 2004...
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