Sempra acted as sole financial advisor to Dubai-based Ridge Capital, the financial services arm of African conglomerate Ridge Solutions International Holdings on its acquisition of a 100% stake in El Rashad Holding, one of the first established financial services firms in Egypt. El Rashad Holding was established in the early nineties, with asset management as their main line of business.
"We are happy to have entered an important emerging market such as the Egyptian market through the acquisition of one of Egypt's oldest and standing financial services firms" said Ridge Solutions Group chairman José Ferreira Ramos. "We are optimistic about the prospects of the Egyptian economy and the financial services sector in Egypt, especially Islamic finance".
Sempra is pleased to have played a role in assisting Ridge Capital in entering the Egyptian market in their attempt to offer broad-based Shariaa compliant financial services to Egyptian companies and investors.
"The financial services sector in Egypt has been receiving a great interest from GCC and foreign investors for a while now as they are trying to take advantage of the current lower valuations and capitalize on the long term growth story of Egypt" said Karim Amin, Executive Vice President with Sempra Capital.
About Ridge Capital
Established in 2004, Ridge Solutions Group is a wholly owned Angolan company with a wide array of operations across diverse sectors. Ridge Solutions' initial success came in leading several high profile real estate developments in Angola to become the leading Angolan real estate developer. Ridge Capital, Ridge Solution's financial services arm, was established in 2008 and is a very important element in the group's long-term growth strategy. It has successfully created several sector specific investment funds, including inter alia, real estate, agriculture and natural resources. Ridge Capital is registered as a DIFC entity with its regional office in Dubai, UAE.
© Press Release 2012
