EFG Hermes' Karim Meleka sees IPO, infrastructure momentum in MENA amid reforms
Image: Supplied
Held under the theme
MENA Investment Playbook,
the recent 19th EFG Hermes Annual One-on-One Investor Conference in Dubai brought together 220 companies from 12 countries and 675 institutional investors and fund managers representing 252 global institutions.
With more than 15,000 meetings conducted, the forum reaffirmed its status as the region's largest and most influential investment platform. It provided a valuable opportunity to explore investment strategies shaping the Middle East and North Africa.
We sat down with Karim Meleka, co-head – Investment Banking at
How would you describe the overall sentiment at this year's conference, particularly from an investment banking perspective?
The sentiment was very constructive. There's a strong appetite from investors to explore opportunities in MENA, especially in markets like the UAE and Saudi Arabia. From an investment banking standpoint, we're seeing continued momentum in IPOs, particularly in sectors aligned with national transformation agendas — such as infrastructure, logistics, fintech, and consumer goods. The conversations we've had at the conference have reaffirmed that the region remains a bright spot amid global volatility.
What trends are currently driving deal activity across MENA?
A few key trends are emerging. First, government-led privatisation programmes, especially in the GCC, continue to generate a healthy pipeline of IPOs. Second, there's a growing focus on infrastructure and sustainability-linked investments, which ties in with the region's long-term strategic goals. We're also seeing cross-border M&A activity pick up, with regional champions looking to expand their footprint beyond domestic markets. And finally, there's more private capital stepping in to fill financing gaps in underserved sectors.
With global macroeconomic uncertainty, how is EFG Holding adapting its investment banking strategy?
We're staying agile by focusing on sectors with strong fundamentals and long-term visibility. Our strategy is to align closely with economic reform agendas in key markets like the UAE and Saudi Arabia. We're also leveraging our advisory expertise to guide clients through volatile environments — whether that's optimising capital structures, preparing for IPOs, or identifying strategic partners. Being present on the ground and maintaining strong local relationships has been instrumental.
There's been a lot of focus on infrastructure. How significant is this space to your deal pipeline?
Infrastructure is critical. It's not just traditional assets like roads or ports — it includes digital infrastructure, renewable energy, and logistics networks. Governments are increasingly partnering with the private sector to accelerate project delivery. We're currently advising on several infrastructure transactions, some involving international players looking to invest in long-term, stable assets in the region. It's a space we expect to remain very active.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
an hour ago
- Khaleej Times
UAE: Can passengers claim refund if the flight ticket is non-refundable?
Question: I recently booked a flight through a travel agent, which I now need to cancel. However, the agent says I won't get my money back, as the flight option I selected does not allow cancellations. Can I get my money back? Answer: It is assumed that the travel agent did not provide you with clear and complete information about the non-refundable nature of the flight ticket before booking. A consumer has the right to obtain accurate information about the goods or services they purchase, use, or receive. This is by Article 4(2) of Federal Law No. 15 of 2020 on Consumer Protection, 'Obtaining true information on the commodities purchased, used or consumed or the service received.' The performance of all contractual obligations is subject to the principle of good faith, as prescribed under Article 246 (1) of the Federal Law No. (5) of 1985 On the Civil Transactions Law of the United Arab Emirates, which states, '1. The contract shall be implemented, according to the provisions contained therein and in a manner consistent with the requirements of good faith.' Stay up to date with the latest news. Follow KT on WhatsApp Channels. The wording in a contract should be clear under Article (265) (1) of the UAE Civil Transactions Law, 'If the wording of a contract is clear, it may not be departed from by way of interpretation to ascertain the intention of the parties.' Furthermore, if an individual approves something after an agent has done it on his behalf, it may be considered as if you had given consent to the agent before the agent doing such work. This is by the Article 930 of the Federal Law No. (5) of 1985 On the Civil Transactions Law of the United Arab Emirates, 'Subsequent permission for a dealing shall be regarded as a prior grant of agency.' Based on the aforementioned provision of the law, if the travel agent did not inform you that the air ticket is non-refundable before booking, you may have grounds to request a refund or compensation under the UAE Civil Transactions Law and Consumer Protection Law. The agent is obliged to act in your interest and provide full disclosure. You may also contact the airline directly to check if any refund or rebooking options are available. Furthermore, you may consider filing a complaint with the UAE Consumer Protection Department or seek further legal advice.
The National
2 hours ago
- The National
UAE midday break for workers starts today
The UAE's midday break for outdoor workers came into effect on Sunday. The break runs until September 15 and prohibits work under direct sunlight and in open-air spaces between 12.30pm and 3pm. The annual initiative, overseen by the ministry of Human Resources and Emiratisation, was first introduced in 2004 and gives employees respite from the scorching summer heat. Companies will be fined Dh5,000 for each time a worker breaches the midday ban and up to a maximum of Dh50,000 if several cases take place. The safety measures came back into force after the UAE has seen climate records tumble. The country has recorded its hottest April and May since records began. 'Now in its 21st consecutive year, the Midday Break is rooted in a sustainability-centred approach that the UAE implements in line with its commitment to providing a safe working environment as per international best practices and occupational health and safety standards, protecting workers from injuries and illnesses caused by working in high temperatures during the summer months,' the ministry said on social media. The ministry said 51 infractions were uncovered last year as a result of 134,000 inspections, down from 96 the previous year.
Khaleej Times
2 hours ago
- Khaleej Times
Can employer in UAE deny annual leave? Here's what the law says
Question: I am planning to take a vacation this summer, but my boss is rejecting my leave request, as others on the team have already booked the dates. However, I would like to take my leave and travel. Is this for employers who reject leave applications? Answer: It is assumed that the mainland company you are employed with is employing more than 50 employees. In the UAE, it is at the discretion of an employer to determine the annual leave dates of its employees based on operational requirements or in mutual agreement with the employees. An employer must inform an employee of their annual leave dates (start date and end date) at least one month before the annual leave commences. This is by Article 29 (4) of Federal Decree Law No. 33 of 2021 on the Regulation of Employment Relations, which states, 'The employee shall use his leave in the year of entitlement. The employer may fix the dates of leave according to the work requirements and in agreement with the employee, or rotate leaves among employees for the smooth progress of work, and shall notify the employee of the date of his leave at least (1) one month before the same.' Stay up to date with the latest news. Follow KT on WhatsApp Channels. Furthermore, an employer may not prevent an employee from availing of annual leave that has been carried over for more than two years unless the employee chooses to postpone it or receive a cash allowance instead of the annual leave, according to the HR/internal policies in place at the workplace and applicable regulations. This is by the Article 29 (8) of the UAE Employment Law, 'The employer may not prevent the employee from benefiting from his annual leave accrued for more than two years unless the employee wishes to carry it forward or receive a cash allowance for it, by the regulations in force at the establishment and the Implementing Regulation hereof.' Based on the aforementioned provisions of the UAE Employment Law, your employer may reject a leave request if it overlaps with the pre-approved leave of other employees and affects the smooth functioning of your employer. Therefore, you may discuss the matter with your employer and consider suggesting alternative dates or adjusting the dates of your vacation which are acceptable to your employer. Ashish Mehta is the founder and Managing Partner of Ashish Mehta & Associates. He is qualified to practise law in Dubai, the United Kingdom and India. Full details of his firm on: Readers may e-mail their questions to: news@ or send them to Legal View, Khaleej Times, PO Box 11243, Dubai.
