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Wednesday, 25 March 2020

Sovereign Fund of Egypt to prepare low-risk ventures for investors post-covid

The Sovereign Fund of Egypt (SFE) is preparing a list of potential low-risk investments to present to investors after the covid-19 outbreak has been contained to restore confidence in the Egyptian economy, SFE CEO Ayman Soliman tells Al Mal. The negative impact of the pandemic on the economy will push investors towards low-risk ventures, Soliman said, without signaling what these potential investments could include.

Background: The SFE had offered to investors a 70% stake in the three Siemens-built combined-cycle power plants, and had said it expects to complete the acquisition of the first of the three plants this year. The fund will acquire the remaining 30%. The SFE also signed early last month an agreement with the military’s National Service Products Organization to market some of its subsidiaries to private investors.

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