Partners Who Put Their Faith in Egypt’s Burgeoning Economy

Aly El Ghannam and Marwan El Khedry – “The Partnership”, as they choose to be called – established Ostoul Capital Group in Egypt in 2015.

Aly El Ghannam, Chairman & Marwan El Khedry, Managing Director

With more than a quarter of a century of experience between them in the capital market, private banking and investment management fields, “the partnership” put their expertise – gleaned from positions in prestigious banks, brokerage firms, portfolio and fund-management companies – to good use.

They established Ostoul Capital Group with the avowed intention that it would become one of the leading investment banks in the market. Their extensive exposure to the Buy and Sell sides of the Capital Market also added value to the structuring of the institution.

Having been involved with a wide range of prominent clients as well as having maintained strong ties with the regulators and authorities, the two men were able to envision what clients would need and worked on providing the biggest range of financial services to accommodate a diverse range of clients.

They went on to develop a solid and fully fledged investment house, and made sure that the group’s list of shareholders bore some of the most reputable and prestigious names from diverse fields and industries.

When Ostoul Brokerage Services, a subsidiary of Ostoul Capital Group was granted the trading license in 2015, many believed it was taking on a huge challenge by entering the market at a time of instability and volatility.

Aly El Ghannam and Marwan El Khedry decided to take that risk, and pressed the “Go Ahead” button, with firm confidence in the promise and potential of the Egyptian Economy and Stock Market.

“The Partnership” was proven right when the Egyptian Economy started presenting robust results since the adoption of an economic reform programme at the end of the fiscal year 2015/16. The package was designed to leverage Egypt’s strengths and tackle core challenges head-on, as well as focus on growth, job creation and social inclusion.

November 2016 was a turning point in the Egyptian Economy, when the Central Bank of Egypt took the long-awaited decision to liberalise the local currency against foreign currencies to boost confidence in the economy.

By the end of 2018, both the International Monetary Fund (IMF) and the Economist Intelligence Unit (EIU) revised upwards the projected real GDP growth for Egypt. Bloomberg agreed, using the IMF projections to break down sources for world GDP growth, and anticipated Egypt’s contribution to reach 1.3% from 2018-2019.

Egypt is witnessing improvements on all economic fronts, with a strong GDP growth, a lower budget deficit, dollar sources on the rise, the subsidy bill dropping, inflation easing and above all the stock market performing exceptionally well.

The country is determined to emerge as a favourable investment destination, with a unique value proposition for global investors. Since the stock market is a leading indicator, Ostoul strongly believes that 2019 is a year during which the market will outperform to reflect the positive results of the economic reform program, backed by declining interest rates in the coming future.

“Perseverance in Profit Making” was the slogan “the partnership” decided to take up for their institution to express the depth, meticulousness and patience they take on in making the right investment decisions. They set their mission to provide various well researched investment strategies as well as tailor made models to suit each client’s needs and preferences aiming to accomplish the best returns possible while minimizing the risks that may arise in such a market. With an in-house research team, technical analysts, custodian and broker in place, Ostoul succeeded in achieving the most difficult equation of maintaining high levels of integrity, diligence, competence, credibility and efficiency.

Just as “the partnership” had believed since the start of Ostoul, the Egyptian Economy went on to significantly improve in a few years as backed up by some of the renowned names in the field; IMF, the World Bank, Moody’s, S&P and Fitch and with the growing faith “the partnership” still has in the Egyptian Market, Ostoul Capital Group along with its subsidiaries will work hard to achieve even more to become among the top 10 service providers in the shortest time possible.