(2017-07-26) Emirates NBD Egypt wins 2 EMEA awards 2016 for Best deals in Africa Emirates NBD Egypt is pleased to announce that it has won two EMEA Project Finance Awards 2016 for Best Telecommunications Deal in Africa and Best Transport Infrastructure Deal in Africa.
In the telecommunications award category, Emirates NBD Egypt was proud to be a part of an EGP 6 billion syndicated loan completed in December 2016 to finance Etisalat Misr’s acquisition of the 4G license. The 4G spectrum will be revolutionary in the Egyptian telecommunications market, significantly enhancing internet and mobile performance, speed and coverage levels across the country.
In the transport infrastructure category, this award acknowledged Emirates NBD Egypt’s USD 110 million syndicated medium term loan for Cairo Airport’s Terminal Two Expansion project. Emirates NBD Egypt was the lead arranger of the transaction for Turkish developer, Limak Insaat, with the deal finalized in January 2016.
After winning the two major industry awards, Amr Azab, Head of Corporate Banking, Emirates NBD Egypt said: “The EMEA Project Finance Awards are recognized across the region and internationally so it was rewarding to win not one, but two awards. This acknowledged our market-leading expertise in providing financing to Egypt’s major infrastructure projects especially in the critical telecommunications and construction sectors.”
“Over the last five years, we have focused on expanding our telecommunications and transport portfolios to provide the leading players in these sectors, including international companies like Etisalat Misr and Limak Insaat with appropriate, large-scale financial solutions. This is aligned with Emirates NBD Egypt’s plan to become a leading private sector bank in Egypt. It is also directly aligned with the government’s Vision 2030 plan to ignite the Egyptian economy. That is because we are helping to unlock the potential of other international companies in Egypt by meeting their financing needs. Additionally, both the telecommunications and transport sectors have been earmarked as priorities in Vision 2030, given the broader economic and social benefits these sectors can enable.”
The EGP 6 billion syndicated loan to finance Etisalat Misr’s 4G license has allowed the leading telecommunications provider to improve the speed and availability of internet and mobile services across Egypt. This is particularly as the government is also investing heavily in telecommunications assets and infrastructure. In today’s digital era, such high-speed internet is a prerequisite for attracting more foreign investment into Egypt, whilst also enhancing the productivity of local companies and connecting more rural areas across Egypt that previously lacked network access.
The Cairo Airport Terminal Two Expansion transportation project is key in facilitating more international tourism into Egypt. It also aims to make Cairo a major aviation hub for the Middle East and Africa by doubling the terminal’s capacity. Specifically, the terminal capacity is expected to reach 7.5 million passengers each year, up from its current 3.5 million. This will boost the airport's total passenger handling capacity to 30 million whilst enhancing the quality of airport services.
The EMEA Project Finance Awards cover the European, Middle Eastern and African financial markets and is hosted annually by EMEA Finance Magazine. The awards program celebrates the region’s best financial deals, advisors and projects across a broad range of categories. In addition to telecommunications and transport, other award categories include power, oil and gas, energy infrastructure and water, as some examples.
