Ehab Rashad, board member of Mubasher advisory for securities, said that his company is managing an agreement to acquire a company specialised in the media industry. It is considered the first operation carried out by Mubasher after it obtained the licence to practice the activity from the Egyptian Financial Supervisory Authority (EFSA).
He explained that the media company works in the local market, and Mubasher is currently assessing it with the purpose of putting it up for sale to a company working in the media sector.
Rashad noted that Mubasher seeks to expand in financial consultations—a field that has been flourishing over the past few years, unlike other financial activities that suffered from poor activity with the economic and political turmoil.
He added that the fluctuations experienced by Egypt’s economy over the past few years have made many companies resort to putting themselves up for sale or merging with other companies. Some even opened the door for new shareholders to increase the companies’ capital and provide enough liquidity that enables them to overcome the difficulties of financing and practising the activity.
Mubasher is working on expanding in several activities, as the company owns the permits necessary to practise securities brokerage, financial consultations, and portfolio management.