SANAD Fund, Green for Growth Fund plan to invest USD 30-80 mn in Egypt
Up to USD 80 mn in love for renewables and SMEs. SANAD Fund and Green for Growth Fund (GGF) are planning to finance USD 30-80 mn-worth of Egyptian SMEs and renewable energy projects in the coming period, Mohamed Morsy, the Egypt-based manager of impact investor Finance in Motion, told Al Mal. The funds are also seeking domestic financing to support investments, Morsy said, without providing further details. German-based asset manager and self-styled impact investor Finance in Motion pledged USD 100 mn in funding to support SMEs last year.
Correction: 8 April, 2019
An earlier version of this article mistakenly said the funds are planning to invest USD 30-80 mn in the coming period, implying the proceeds will be used in a direct investment. The funds are rather looking to finance USD 30-80 mn-worth of projects.