The General Authority for Investment and Free Zones (Gafi) has officially approved an updated technical and regulatory framework for corporate valuation and pre-investment financial due diligence. This move is part of Egypt's efforts to improve the business climate and provide more efficient, transparent services to investors. The announcement followed the final meeting of the technical committee chaired by CEO Hossam Heiba.
In a step to bolster Egypt's investment environment, the General Authority for Investment and Free Zones (Gafi) announced the approval of an updated technical and regulatory framework for corporate financial valuation and pre-investment due diligence. The announcement came after the final meeting of the technical committee responsible for reviewing and updating the framework, chaired by CEO Hossam Heiba. Participants included Dalia El-Hawary, Deputy CEO for Institutional Development, Research, and Economic Performance, as well as experts from prominent Egyptian and international audit firms and relevant authorities.
The committee concentrated on streamlining accounting standards, enhancing procedures for mergers, demergers, and corporate restructurings, and examining the technical handling of companies' financial frameworks. It also devised a comprehensive strategy for pre-investment financial assessments, in line with international best practices, while tackling practical issues and suggesting steps to aid Egypt's digital transformation.
Heiba stressed that the updated framework is vital for fortifying Egypt's investment landscape, promoting greater transparency, boosting technical precision, and addressing investor requirements more effectively. He underscored Gafi's continuous modernization drive to digitize services and elevate their quality to match global benchmarks and Egypt's investment goals. "We will closely monitor the implementation of these reforms, gather stakeholder feedback, and continue making improvements," Heiba stated.
El-Hawary noted that the committee employed a thorough analytical method, scrutinizing current models and international examples to formulate practical recommendations for refining valuation and financial review processes. She highlighted that the new framework will enhance the reliability and uniformity of valuation outcomes across Gafi's technical units.
As part of its digital transformation push, Gafi launched a new online platform for financial review services, enabling investors to submit applications, monitor progress, and get real-time notifications. This platform seeks to shorten review periods, increase transparency, and better investor communication. These updates form part of broader reforms to heighten Egypt's competitiveness, draw local and foreign investments, and build investor trust, with Gafi pledging close oversight for successful rollout.