A UAE-based company working in the field of alternative investments has announced that it plans to invest $250 million in Egypt over the next five years. The CEO of Gulf Capital made the announcement during a press conference yesterday.
The company will launch its fourth equity investment portfolio of about $750 million next summer, explained Karim El-Solh. He noted that Egypt’s share of these investments will be significant, with $250 million expected to be pumped into the market through this portfolio.
El-Solh also announced that Gulf Capital is to open an office in Cairo. “This will take advantage of investment opportunities in the Egyptian market and the fast-growing African markets,” he told journalists.
“The company has invested about 5 billion Egyptian Pounds ($300 million) in Egypt over the past 10 years in several companies, including Vezeeta Healthcare, Metito, which works with water and waste-water smart solutions, and recently in Geidea, which works in financial technology solutions,” added the co-founder of Gulf Capital. “Egypt has become a rising star in the global technology sector, and has recently been one of the most important and active players in the technology sector in Africa.”
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