Minister of Investment and Foreign Trade Hassan El-Khatib met with a delegation from Evolve Holding and its partner, Stonex, to discuss expanding their investments in Egypt’s precious metals sector, according to a Cabinet statement.

El-Khatib emphasised the strategic importance of the sector, noting that Egypt’s gold exports have surged to reach $6 billion.

Evolve Holding, in partnership with Stonex, outlined an ambitious expansion strategy targeting precious metals trading, logistics services, and gold-backed non-banking financial products.

The delegation also highlighted plans for digital products to formalise and maximise the efficiency of the domestic gold trade.

Company representatives noted that Egypt’s gold trading volume is substantial, with the potential to reach $5 billion. They expressed their intent to transform Egypt into a regional and international export hub, utilizing the country’s unique geographical location to access global markets.

 El-Khatib reaffirmed the Ministry’s commitment to supporting firms looking to increase their capital injections into the Egyptian market.

Evolve Holding is an Egyptian investment firm specializing in the gold and precious metals value chain, notably launching Egypt’s first gold investment fund.

Prime Minister Mostafa Madbouly recently chaired the first meeting of the Supreme Gold Committee, reviewing its efforts to maximize added value and transform Egypt from an ore exporter into an industrial hub.