As the map of global trade is redrawn, the Middle East–Africa corridor is fast becoming one of the most important engines of South–South growth. This Global Finance content hub in partnership with CIB Egypt explores the trends, opportunities, and institutions powering stronger commercial ties between the two regions. Through on-the-ground reporting, data-driven analysis, and insights from market participants, we will examine how trade, payments, finance, logistics, and investment flows are being reconfigured across a corridor that is no longer peripheral, but increasingly central to the future of global commerce.
Energy is key – in 2025, 77% of East Africa’s oil imports came from Gulf suppliers such as Saudi Arabia, UAE, Kuwait and Oman.
Source: https://www.mees.com/2025/8/1/corporate/middle-east-oil-trade-dominance-in-east-africa/
GCC–Africa trade flows are projected to reach US$260bn as supply chains realign
Source: https://www.mordorintelligence.com/industry-reports/middle-east-and-african-freight-logistics-market
CIB is the leading private-sector bank in Egypt, offering a broad range of financial products and services to its customers, which include more than 500 of Egypt’s largest corporations, enterprises of all sizes, institutions, and households. CIB’s strong brand and growth in retail and SME banking segments continues to introduce new customers to the bank. As a result, CIB has succeeded in becoming the most profitable commercial bank operating in Egypt for more than 40 years.
The Bank was founded in 1975 as Chase National Bank, a joint venture between Chase Manhattan Bank and the National Bank of Egypt (NBE). In 1987, Chase divested its stake to NBE, who renamed the former joint venture Commercial International Bank.
Over time, NBE’s ownership in CIB declined, and in 2006 a consortium led by Ripplewood Holdings acquired NBE’s remaining 19%. In 2009, Actis, a Pan-African private equity firm specializing in emerging markets, acquired 50% of Ripplewood Consortium’s stake and became CIB’s single largest shareholder, with a 9.06% stake.
The emergence of Actis as CIB’s predominant shareholder marked a key transition in the bank’s strategic relationships. In March 2014, Actis divested 2.6% of its stake in CIB on the open market, maintaining its seat on the board, and in May of that year, sold its remaining stake to several wholly-owned subsidiaries of Fairfax Financial Holdings. Fairfax Financial Holdings owns through its wholly-owned subsidiaries a total of 6.55% of CIB’s shares. In April 2022, Alpha Oryx Ltd (a subsidiary of ADQ) acquired 18.595% of CIB.