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Reading: Qatari investments on the way to Egypt
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Dailynewsegypt > Blog > Business > Qatari investments on the way to Egypt
Business

Qatari investments on the way to Egypt

Mahmoud El-Qassas
Last updated: 2022/08/14 at 2:15 AM
By Mahmoud El-Qassas 2 Min Read
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Qatari investments on the way to Egypt
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The Qatar Investment and Development Authority is conducting advanced negotiations with the Egyptian Sovereign Fund regarding acquiring stakes in Egyptian companies focused on fintech and renewable energy.

Moreover, Daily News Egypt learned that the agency is studying acquiring stakes in three or four new companies, including eFinance and Fawry. It is expected that Egypt will start seeing the first investments over the next few weeks.

Sources added that the Saudi Sovereign Fund is also about to acquire a stake in Misr Aluminum within the next few weeks by pumping about $215m into the company’s capital increase, in addition to acquiring a stake in a new hotel company that is “under establishment” within two months.

Furthermore, the Emirati Sovereign Fund is currently negotiating a 10 to 15% stake in Abu Qir Fertilisers.

Qatar intends to pump investments worth $5bn in Egypt after the Saudi and Emirati Sovereign Funds announced their intentions to also invest in the country.

Data from the Sovereign Wealth Fund Institute (SWFI) revealed the 10 largest sovereign funds in the world, including the Qatar Investment Authority.

According to the institute’s data, the Qatar Investment Authority ranked ninth in the world with assets amounting to $450bn.

The Saudi Egyptian Investment Company — a subsidiary of the Saudi Public Investment Fund — acquired stakes in four Egyptian companies last week amounting to $1.3bn (EGP 25bn).

The list of companies includes eFinance, Abu Qir Fertilisers, MOPCO, and Alexandria for Container Handling.

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TAGGED: Egypt, Qatar, Qatari investments
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