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FinancialNews
25-01-22
Egypt’s sovereign fund intends to increase its investment portfolio by double
(MENAFN) Based on the Sovereign Fund of Egypt executive, the investment fund intends to increase its USD1 billion investment portfolio by two folds this current year with an emphasis on expanding into new fields and supporting eco-friendly initiatives.
According to Ayman Soliman statement to The National, “we are at roughly $1bn worth of assets and cash … Our aim for 2022 is to double that number,” and added, “that growth will be driven by in-kind cash and value creation around existing assets."
The fund, also referred to as TSFE, was created in 2018 to draw private investments to Egypt and enhance and co-invest in government-owned assets to increase their worth.
MENAFN25012022000045013568ID1103589650
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