Sovereign Fund of Egypt
The reorganization comes after Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat's call on October 3 to position the fund under the cabinet.
Back in 2019, Soliman outlined an ambitious vision for TSFE, telling Reuters he aimed to “unlock value and create wealth.”
Subfunds related to the telecommunications and agriculture sectors are reportedly in the works as part of the Sovereign Fund of Egypt’s (SFE) multisector strategy
Discussions for the new subfund include investors in the food, engineering, and building materials industries, as well as industries related to the manufacturing of railway and train supplies
This decision follows a suggestion from the World Bank and supports the government's plan outlined in its state ownership policy document
TFSE achieved significant milestones by concluding agreements to sell shares in state-owned companies, amounting to a total value of $2.5 billion
Harmgart said that discussions are currently underway with The Sovereign Fund of Egypt (TFSE) to discuss the possibility of purchasing a minority stake in the United Bank and the Banque du Caire
The chairperson stressed TSFE’s dedication to creating opportunities for national and foreign investors while ensuring the rights of future generations
The company was added to TSFE’s Pre-IPO fund earlier this year. According to sources, preparations for the potential IPO have begun but did not disclose further details
Increasing the private sector’s participation is a state priority, the Sovereign Fund of Egypt (TSFE) head was reported by local media as saying
Prime Minister Mostafa Madbouli chaired a cabinet meeting on Tuesday to follow up on efforts exerted by The Sovereign Fund of Egypt (TSFE or the Fund) to attract foreign and local investments.
MIHC was established on July 15, 2006 and is considered as one of the largest companies in the public business sector.
Soliman noted that these investments were pumped in sectors of utilities and infrastructure, tourism, real estate investment, antiquities development, financial services and digital transformation, education and industry.
The Sovereign Fund of Egypt (TSFE) made the announcement Wednesday.
Prime Minister Mostafa Madbouli said the State is moving forward in adopting plans and proposals that would attract more domestic and foreign investments via ambitious programs meant to propel various economic sectors.
Soliman stated, during the activities of the second day of the CEO Conference, Monday, that the fund owns a portfolio for the education sector with a current value of about LE 500 million.
This came during the activities of the second day of the CEO Conference, Monday.
The minister gave an overview of ongoing projects.
Soliman indicated that the fund’s goal is to reach a volume of LE 30 billion by the end of next year 2022.
That was in IPAs Africa Forum 1 held in Sharm El Sheikh on June 11-14.
