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Monday, 11 October 2021

Nile Misr Healthcare to allocate 30% of its capital to three African countries

Nile Misr Healthcare to allocate 30% of its capital to three African countries: Misr Capital and Elevate Private Equity’s USD 380 mn healthcare investment platform, launched in April, will invest 30% of its capital in Ghana, Kenya and Côte d’Ivoire, the fund’s CEO Tarek Moharram told us, adding that the African expansion comes alongside a very strong presence in Cairo.

Egyptian investments are still in the works: Nile Misr has a number of Egyptian investments lined up but they’re all still under negotiation, Moharram told us, adding that the fund is in line to acquire a major radiology center among other opportunities.

About Nile Misr Healthcare: Misr Capital and Elevate Private Equity launched the fund in April, billing it as the biggest specialized fund of its kind in Egypt and Africa. Shortly after its launch, Moharram said the fund was doing due diligence on six potential investment targets including a major Egyptian diagnostic company. He added that Nile Misr Healthcare’s long-term ambition is to bring a number of its portfolio companies under the umbrella of a holding company, which would then be floated on the EGX.

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