EFG Hermes, a leading investment bank serving North Africa and the Middle East, has announced plans to expand its coverage to over 100 frontier markets in the financials, consumers, utilities, telecommunications and energy sectors in 2018.
New markets on the coverage horizon include Georgia, Zambia, Zimbabwe, Ghana, Ivory Coast and Sri Lanka.
EFG Hermes Research’s coverage currently spans all major frontier markets, with 65 stocks currently under coverage.
The announcement comes just as the firm has been ranked the number one frontier market brokerage firm in the Extel Survey 2018,
The company has advanced from the 9th place last year. The new ranking comes just two years into EFG Hermes’ drive to expand beyond the Middle East and North Africa into frontier emerging markets.
Firms ranked in the Extel Survey 2018 were selected from 506 sell-side firms, and over 10,500 investment professionals. In 2017, EFG Hermes ranked second out of 33 global and regional research houses in the Extel Survey while maintaining its position as the top research house in the Middle East and North Africa (MENA) region.
EFG Hermes started in Egypt and has grown over 30 years of success to become a leading financial services corporation with access to emerging and frontier markets.
The firm, which is described as a leading financial services corporation serving institutional and individual investors in frontier emerging markets, has established a physical presence in Pakistan, Kenya, Bangladesh and the United States.
Prior to its prestigious ranking, EFG Hermes was named the top Africa Ex-South Africa Equities House at the Financial Mail Top Analyst Awards 2018, solidifying its strong presence in the African market.
“Coming on the heels of our ranking as the top Africa Ex-South Africa Equities House at the Financial Mail Top Analyst Awards 2018, this industry recognition highlights the core strength of EFG Hermes Research manifested in its ability to respond rapidly to the significantly increasing demand for new investment ideas and strategies amid the ever-changing dynamics of markets and economies,” said Ali Khalpey, the London-based Chief Executive Officer of EFG Hermes Frontier.
“Our strategy is to match our growing execution capabilities with world-class research that meets the needs of our clients. Beyond EFG Hermes’ strength as a research house in the MENA region, this is proof that our calculated investments into frontier expansion has paid off and underscores our unmatched strength in new geographies that we have entered within the past two years,” he added.
The commendation follows EFG Hermes Frontier’s recent entry into Bangladesh, bringing its direct presence to eleven markets across four continents. EFG Hermes has focused its frontier efforts on providing clients with world-class, on-the-ground research spanning African, Middle Eastern and Asian markets.
“We continue to seek the right opportunities to expand into high-growth frontier emerging markets, while focusing on consolidating our presence to create the right opportunities to serve our clients with a superior product offering across all markets,” commented EFG Hermes Co-CEO, Mohamed Ebeid.
“Being consistently ranked in the top five in some of the world’s most important research surveys is a testament to our high quality standards and the firm’s overall focus on innovative products – a key component of our strategy,” added Ahmed Shams El Din, EFG Hermes’ Head of Research.
“By the end of 2018, we plan on adding more than 35 African equities to our research coverage, in addition to new products covering strategy, macro-economy, and sector reports. Our clients can now trade banking and financial equities, while gaining insights from our research team, which covers banks in Kenya, Nigeria, Vietnam and the MENA region,” he continued.