DAVOS — While world leaders discussed economic and political matters at the World Economic Forum in Davos, TRENDS engaged in a discussion about investments in healthcare, education, and AI in the region during an interview with GFH Financial Group CEO Hisham Alrayes.
He outlined how GFH made 2023 a great year by effectively assessing market dynamics, proactively realigning assets, and seizing growth opportunities in the face of global income and yield compressions due to rising interest rates.
The discussion covered GFH’s aggressive investments in healthcare, education, logistics, and private lending in Saudi Arabia and the UAE. Alrayes anticipates sustainable growth in 2024 that matches the region’s potential and is bolstered by investor confidence.
Excerpts:
Q: In terms of 2023, how was it for GFH, and what are you looking forward to in 2024?
A: 2023 was an excellent year for GFH. We accurately gauged the market, realigned our investment strategy, and capitalized on the growth opportunities in the region following income and yield compressions in other markets due to rising interest rates. We redirected significant investments to Saudi Arabia and the UAE, focusing on growth in healthcare, education, logistics, and private credit. Looking ahead to 2024, we are optimistic about continued growth, aligning with the region’s potential and bolstered by investor confidence.
Amid concerns about a US recession, the careful approach of the US Federal Reserve has maintained market optimism…
Hisham Alrayes, CEO of GFH Financial Group
Q: How does tech-related investment factor into your overall strategy?
A: Tech-related investments are a key focus for us. While we have historically invested in the US and Europe, we are now concentrating on regional investments in digital payments, mobile apps, and AI-driven technologies. Our aim is to enhance client experiences in commercial banking and investments, making our services more innovative and efficient.
Q: With global talks of a possible recession and inflation in the US, how does this impact your strategy?
A: Amid concerns about a US recession, the careful approach of the US Federal Reserve has maintained market optimism. However, we are mindful of the pressure on net interest rates and the shift towards riskier assets.
Q: What will be GFH’s key focus areas for 2024?
A: In 2024, GFH aims to grow its asset base through strategic commercial and investment banking acquisitions. The focus will also extend to attracting and acquiring top talent. Key geographical regions will be an integral part of this growth strategy, positioning GFH for sustained success in the evolving economic landscape.