CFI Financial Enters Egypt by Acquiring El Mahrousa, a Local Broker

CFI Financial Group announced on Thursday the acquisition of El Mahrousa, an Egyptian brokerage firm, setting the path for its continued expansion in the Middle East and East Africa (MENA).

The press announcement shared with Finance Magnates described the acquisition that strengthened CFI's market share and position in the MENA area.

"CFI's dominant position in MENA is extremely important to us, and the acquisition of El Mahrousa in Egypt bolsters that position. The Egyptian market is a major market in the area, and we recognized that we needed a physical presence there through a locally regulated firm "The Co-Founder and Managing Director of CFI Financial Group, Hisham Mansour, said in a release.

CFI provides services for trading forex and contracts for differences (CFDs) of a number of other popular asset classes. The broker's Middle Eastern operations are largely concentrated on the United Arab Emirates, Jordan, and Lebanon, where its regulated firms are located. The broker is additionally regulated in the United Kingdom, Cyprus, and Mauritius.

In addition, the brokerage firm's trading volume increased by 94 percent in the first three quarters of the current year, indicating an increase in demand. Additionally, its client acquisition rate increased by 155% year-over-year, while the number of active accounts increased by 80%.

In addition to its global expansion, CFI enhanced its offers. In the previous year, the broker has added thousands of new CFDs products and new markets to its trading platform.

Pep Guardiola, a former Spanish footballer and the current coach of the English football team Manchester City, was signed as the global brand ambassador of CFI. CFI is one of the rare companies that directly contracts football personalities for marketing and promotions.

Meanwhile, CFI's upper management underwent several changes. Loukia Christoforou joined the broker group in June as the Head of Project Management, while Chirine Daoud became the new Marketing Director. Furthermore, it named Stelios Thrasyvoulou as the Chief Technology Officer. However, its Group COO, Demetrios Zamboglou, left to become Group CEO at Doto.