New Trade Route Boosts Middle East Exports

The Middle East–Africa trade corridor is becoming a key engine of South–South growth as the global trade map is redrawn. This corridor is no longer peripheral, but increasingly central to the future of global commerce. CIB Egypt, the leading private-sector bank in Egypt, is exploring the trends, opportunities, and institutions powering stronger commercial ties between the two regions.

Trade and Investment Flows

Through on-the-ground reporting and data-driven analysis, it’s clear that trade, payments, finance, logistics, and investment flows are being reconfigured across the corridor. CIB Egypt is well-positioned to facilitate this growth, with a broad range of financial products and services offered to its customers, including over 500 of Egypt’s largest corporations.

The bank’s strong brand and growth in retail and SME banking segments have introduced new customers to the bank, making it the most profitable commercial bank operating in Egypt for over 40 years. CIB Egypt was founded in 1975 as Chase National Bank, a joint venture between Chase Manhattan Bank and the National Bank of Egypt.

Ownership and Shareholders

Over time, the bank’s ownership has changed, with the National Bank of Egypt’s stake declining and a consortium led by Ripplewood Holdings acquiring 19% in 2006. In 2009, Actis, a Pan-African private equity firm, acquired 50% of Ripplewood Consortium’s stake, becoming CIB Egypt‘s single largest shareholder.

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In 2014, Actis divested some of its stake, and in 2022, Alpha Oryx Ltd, a subsidiary of ADQ, acquired 18.595% of CIB Egypt. Fairfax Financial Holdings also owns a total of 6.55% of CIB Egypt‘s shares through its wholly-owned subsidiaries.

As the Middle East–Africa trade corridor continues to grow, CIB Egypt is likely to play a key role in facilitating trade and investment flows between the two regions. With its strong brand and broad range of financial products and services, the bank is well-positioned to support the growth of businesses in Egypt and beyond.

Future Prospects

The emergence of the Middle East–Africa trade corridor as a key engine of South–South growth presents opportunities for businesses and investors in both regions. The bank and other financial institutions will likely play a key role in facilitating this growth. Increased investment in infrastructure and logistics in the region could further support the growth of trade and commerce.

Through on-the-ground reporting, data-driven analysis, and insights from market participants, the trends, opportunities, and institutions powering stronger commercial ties between the two regions will be examined, including how trade, payments, finance, logistics, and investment flows are being reconfigured across the corridor.