CDC Group, the UK’s impact investor and development finance institution, has today announced the appointment of Sherine Shohdy as its new Coverage Director for Egypt. In the role, Shohdy will focus on building more partnerships with local businesses, due diligence, and support CDC’s Egypt portfolio.
CDC is Africa’s largest impact investor and has invested in the continent for over 70 years. It has held a presence in Egypt since 2003, with its portfolio of companies collectively employing 28,351 people across various sectors.
In July 2020, CDC announced a deal to provide $100m of Tier 2 capital to Commercial International Bank – Egypt (CIB). Other strong local partnerships include Ezdehar Private Equity, Sawari Ventures and the 800MW Benban Solar Park in Aswan.
Shohdy joins CDC with a wealth of experience working in Egypt and across the Middle Eastern and North Africa (MENA) region, both in development finance and across the private sector.
She most recently worked as a senior consultant to the International Finance Corporation (IFC), with a focus on the manufacturing, agribusiness and services sectors across the MENA region. She had previously spent close to a decade at the institution working on investments mostly focused on the infrastructure and natural resources sectors in Egypt and neighbouring countries. Shohdy has also held senior positions at Hassan Allam Holding, its subsidiary Hassan Allam Utilities and the Arab African International Bank (AAIB).
Tenbite Ermias, CDC’s Managing Director for Africa, said, “CDC is committed to supporting Egypt’s private sector and accelerating the country’s economic development. Sherine’s extensive knowledge, experience and networks will be critical to achieving these objectives, particularly in terms of identifying promising businesses where our investments can have a transformational impact and improve everyday lives.”
Shohdy added, “I am delighted to be joining CDC’s Africa Coverage Team, and I’m looking forward to deepening the company’s presence in Egypt, widening its footprint and helping identify investment opportunities that will lead to tangible improvements in living standards for Egyptians.”