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Reading: Egypt’s Sovereign Fund to establish sub-fund with $4bn state assets
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Dailynewsegypt > Blog > Business > Egypt’s Sovereign Fund to establish sub-fund with $4bn state assets
Business

Egypt’s Sovereign Fund to establish sub-fund with $4bn state assets

Daily News Egypt
Last updated: 2022/06/07 at 11:25 PM
By Daily News Egypt 1 Min Read
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Egypt’s Sovereign Fund to establish sub-fund with $4bn state assets
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The Sovereign Fund of Egypt (TSFE) aims to establish a new sub-fund that will be responsible for managing the sale of state-owned companies. The fund is set to initially include assets worth $4bn, according to TSFE’s CEO Ayman Soliman.

Soliman explained, in an interview with Al-Arabiya TV, on Monday, that the sub-fund, to be announced within days, will include several companies that have been identified after surveying many partners.

The fund could eventually rise to more than $5-6bn.

Soliman said that a memorandum of understanding will be signed between the TSFE and its Saudi counterpart, on stakes in government companies.

Saudi Arabia plans to inject investments worth $10bn into Egypt during the coming period.

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