Back to the complete issue
Monday, 17 May 2021

Actis to double energy investments in Egypt, Africa in 5 years

Emerging markets private equity giant Actis aims to double its energy investments in Egypt and other African countries to USD 2 bn within five years, Lisa Pinsley, head of Africa energy infrastructure at the company, told Bloomberg. Actis hopes to sign agreements for six energy projects on the continent this year, and invest between USD 200-300 mn, she said, without disclosing further details.

It is unclear how much money Actis has earmarked for Egypt, nor is it apparent what investments might be in the firm’s pipeline. A senior company official did not reply to a request for comment yesterday.

Actis’ current Egypt portfolio: Actis has invested over USD 1 bn in Egypt and is active in the country’s renewables sector through Lekela Power, which has invested some USD 350 mn in its 250 MW West Bakr wind farm. The company has been an anchor shareholder of Cleopatra Hospitals Group since 2019 and holds a 21% stake in consumer healthcare giant IDH and 7.2% of Fawry.

In the pipeline: The company has plans to expand its portfolio of renewable energy and water treatment assets, Actis partner and MENA chief Sherif El Kholy told us earlier this year. Talks with the Sovereign Fund of Egypt over the privatization of the Siemens power plants are also still ongoing. The company is also looking to enter Egypt’s education sector this year with an acquisition through Honoris United Universities, in which it holds a controlling stake.

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.