Catalyst Capital Egypt (CCE), the first impact investing fund in Egypt and the Middle East, in collaboration with the United Nations Development Programme (UNDP) in Egypt, announced the deployment of EGP100m in Alexandria for Industrial Development (AID).
This strategic partnership aims to advance sustainable development in Egypt and attract foreign investments through the development of turnkey factories within the Suez Canal Economic Zone (SCZone).
As the first impact investing fund in Egypt and the Middle East, CCE is dedicated to driving positive change and promoting the United Nations Sustainable Development Goals (SDGs) through its investments. The allocation of EGP100m to AID underscores CCE’s commitment to supporting innovative projects that have the potential to drive economic growth and foster sustainability in Egypt.
AID: A Thriving Industrial Hub
Operating within the SCZone, AID will focus on developing turnkey factories to attract foreign investors. Spanning a vast area of 440,000 square meters in the north-west region of the Suez Canal, AID aims to create a thriving eco-friendly, industrial, and logistic hub equipped with cutting-edge facilities and infrastructure tailored to the needs of international businesses.
“CCE is proud to partner with Alex Steel and launch AID, a transformative initiative that aligns with our mission to drive sustainable development in Egypt,” said Maged Shawky, Chairperson of CCE. “By deploying EGP100m and acquiring a substantial minority stake in AID, we aim to provide the necessary financial advisory and support AID to overcome the current economic challenges and foster a conducive environment for foreign investments.”
As the majority partner, Alex Steel brings over 30 years of expertise in the development of turnkey factories and will oversee the day-to-day operations of AID, ensuring the highest standards are met and delivering world-class factories to foreign investors.
This collaboration leverages the strengths and experience of both CCE and Alex Steel to create a platform that will attract global investments, generate employment opportunities, and contribute to the economic revitalization of Egypt.
As CCE’s partners in launching the first Private Impact Fund in Egypt and the Middle East, UNDP is committed to supporting the private sector in promoting the Sustainable Development Goals.
”Pleased to have partnered with CCE to launch Egypt’s first impact fund. The private sector is a critical player in achieving the Sustainable Development Goals, and at UNDP we’re committed to expanding such impactful initiatives.” emphasized Alessandro Fracassetti, UNDP Egypt Resident Representative.
“The partnership between CCE and Alex Steel demonstrates a shared vision to promote sustainable development, job creation, and economic prosperity in Egypt, said Ramy Othman, CPE General Partner.
“AID’s focus on developing turnkey factories in the SCZone is expected to attract foreign investment, transfer advanced technologies, and contribute to the overall development of the Egyptian economy”, he added.