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Sunday, 18 November 2018

EAEF will invest an additional USD 165 mn in Egypt by end-2019

INVESTMENT WATCH- EAEF is looking to invest as much as USD 165 mn in Egypt by the end of next year: The Egyptian American Enterprise Fund (EAEF) plans to invest some USD 165 mn in Egyptian businesses by the end of 2019, Executive Director Amal Enan said. According to Enan, the EAEF had previously set a target of investing a total of USD 300 mn by end-2019, of which it has invested USD 135 mn “in the past few years.” The EAEF announced last Monday it is investing USD 3 mn for a minority stake in primary care clinic chain Dawi Clinics. US Embassy Chargé d’Affaires Thomas Goldberger had said last month that the fund would invest USD 30 mn in Egyptian SMEs this year, bringing its total investments in Egypt to date to USD 200 mn.

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