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Wednesday, 21 December 2016

EAEF sees opportunities in Egypt, praises gov’t reforms

Egyptian-American Enterprise Fund (EAEF) Chairperson James Harmon says the Fund sees opportunities in Egypt “partially because many other investors are frightened… when investors are frightened, the return on investment is usually very good. The greatest opportunities for me came when others were frightened.” Harmon told Daily News Egypt he hopes to “help SMEs and some larger companies that don’t have funding.” He says the EAEF is looking at increasing financial inclusion and expanding into healthcare, with an on supporting education and agriculture in the future. Harmon added that the EAEF focuses on investments with a positive development dimension, but believes protecting the most vulnerable groups in society will be key. He called the float of the EGP a positive development, expecting a major increase in FDI and praised the government’s reform measures, saying they “have been critical in demonstrating the government’s commitment to taking difficult measures that will ultimately lead to economic growth, and the market has reacted positively.”

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