Smart talk plans

UAE company plans to invest $250m in Egypt – Middle East Monitor

A UAE-based company working in alternative investments has announced 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 around $750 million next summer, Karim El-Solh explained. He noted that Egypt’s share of these investments will be significant, with $250 million expected to flow into the market through this portfolio.

El-Solh also announced that Gulf Capital will open an office in Cairo. “This will take advantage of investment opportunities in the Egyptian market and in fast-growing African markets,” he told reporters.

“The company has invested approximately 5 billion Egyptian pounds ($300 million) in Egypt over the past 10 years in several companies, including Vezeeta Healthcare, Metito, which works with smart water and wastewater solutions, and recently 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 largest and most active in the tech sector in Africa.”

Gulf Capital currently invests in nine companies in Egypt and plans to take one public this year and sell another to a strategic investor. The company has offices in Dubai, Riyadh, Abu Dhabi and Singapore. It currently manages over $2.5 billion in assets across seven funds and investment vehicles.

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