UAE company plans to invest $250m in Egypt

A UAE-based company working in the field of alternative investments has announced that it plans to invest $250 million in Egypt over the next five years. The CEO of Gulf Capital made the announcement during a press conference yesterday.

The company will launch its fourth equity investment portfolio of about $750 million next summer, explained Karim El-Solh. He noted that Egypt’s share of these investments will be significant, with $250 million expected to be pumped into the market through this portfolio.

El-Solh also announced that Gulf Capital is to open an office in Cairo. “This will take advantage of investment opportunities in the Egyptian market and the fast-growing African markets,” he told journalists.

“The company has invested about 5 billion Egyptian Pounds ($300 million) in Egypt over the past 10 years in several companies, including Vezeeta Healthcare, Metito, which works with water and waste-water smart solutions, and recently in Geidea, which works in financial technology solutions,” added the co-founder of Gulf Capital. “Egypt has become a rising star in the global technology sector, and has recently been one of the most important and active players in the technology sector in Africa.”

Gulf Capital currently invests in nine companies in Egypt and plans to put one of them on the stock exchange this year, and sell another to a strategic investor. The company has offices in Dubai, Riyadh, Abu Dhabi and Singapore. It currently manages more than $2.5 billion in assets distributed over seven funds and investment vehicles.

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