EFG-Hermes Holding SAE expects the Covid-19 pandemic to start easing in Africa's largest economy by September and boost investments in food and consumer-facing industries.
Agriculture, digital payments, health, consumer goods, and well-capitalized banks will attract new investors and customers, Kato Mukuru, head of frontier research at the Cairo-based company said in a virtual conference on Thursday. “The good thing about Covid-19 is that it has forced new sectors to come through.”
A lockdown by authorities in Africa's most populous country to contain the spread of coronavirus pandemic moved the nation of 200 million people away from cash to digital payments. Also, a crash in the price of crude oil, the nation's major revenue earner, intensified effort by the Government to diversify income sources by supporting investments in agriculture and processing industries…
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