Back to the complete issue
Wednesday, 17 July 2019

EBRD looking to boost its private equity portfolio in Egypt

EBRD committed to investing over EUR 1 bn in Egypt this year, looking to boost private equity portfolio: The European Bank for Reconstruction and Development (EBRD) is committed to investing north of EUR 1 bn in Egypt in 2019, including buying into companies in the state privatization program, Managing Director for the Southern and Eastern Mediterranean Janet Heckman tells Reuters. EBRD economist Rafik Selim said the bank is allocating EUR 1.5 bn in funding for Egypt this year, according to the local press. According to Heckman, the bank has its eye on the Alexandria Container and Cargo Handling Company (ACCH) secondary offering as part of its plans to expand its private equity portfolio in Egypt.

“We continue to be quite bullish and optimistic about Egypt … it’s a big country, almost 100 mn people and at the same time it’s greatly positioned in terms of export opportunities, which I think have been highly underdeveloped,” Heckman told the newswire. The bank has primarily been investing in Egypt’s transport sector, but has also made significant investments in local private sector companies looking to expand their operations, Heckman told us in December. EBRD President Sir Suma Chakrabarti had also said in December that the bank is planning to commit up to EUR 2.5 bn-worth of projects in Egypt over the next two years.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.