Last year’s political turmoil in Egypt led to volatility in domestic cement volumes, but the market has since stabilised. This year cement demand has been steady although operating challenges present a mixed picture for existing producers and those looking to invest in the sector.
After staging a strong recovery from the global financial crisis in 2010, Egypt has grappled with uncertainty following the political turmoil which began early last year and put it at a crossroads once again. The revolution gave the country its first freely-elected president, Mohamed Mursian, in June of this year and the country is now witnessing some stability and macroeconomic figures are improving. However, while economic fundamentals are generally sound – thanks in large part to a large population, steady GDP growth and a diversified economy – the country’s new presidential administration still has to address high rates of unemployment and poverty to maximise Egypt’s long-term potential.
