Hala El-Said, the Minister of Planning and Chairperson of The Sovereign Fund of Egypt (TSFE), has revealed that TSFE aims to increase its capital to EGP 1trn over the next five years.
During her speech at the celebration of the 50th anniversary of Egyptian-Emirati relations, she added that the Fund has recently increased its capital to EGP 400bn from EGP 200bn.
The Minister added that the world is facing successive historical shocks from the supply and supply chain crisis, and a global energy crisis. “Now is the right time for investment integration between the two countries to utilize the competitive advantages of them both to increase our production and reduce imports,” she said.
She added that the renewable energy plants offered through the Fund have seen 300 offers before by 30 countries. She noted that there are several partnerships with women in the green hydrogen sectors, the pharmaceutical sector, petrochemicals, agro-industry, the real estate sector, in addition to financial services.
E-Said added that the Abu Dhabi Investment Holding Group, and the sovereign investment authority in the UAE, will participate in the pre-proposal fund to be launched by the Egyptian sovereign.
She added that the fund is currently working on restructuring a number of companies to be offered to investors.