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Egyptian pound banknotes sit on a table on March 6, 2024 in Cairo, after Egypt's central bank announced it will allow the exchange rate to be set by the market. Egypt's central bank announced on March 6 it will allow the exchange rate to be set by the market, causing the pound to lose more than a third of its value within minutes. Shortly after 12:00 pm (1000 GMT), the Egyptian pound was trading at a record high of 49.15 pounds to the US dollar, after more than a year of a stabilised official exchange rate of around 30.9. (Photo by Khaled DESOUKI / AFP)
The Egyptian equity investor Ezdehar plans to invest approximately $100 million over the next two years, targeting acquisitions in the retail chain, industrial sectors, and companies focused on import substitution or exports, Ezdehar’s Founder and Managing Director Emad Barsoum told Asharq Business.
This investment will be channeled through the Ezdehar Mid-Cap Fund II (EMF II), valued at $176 million.
Additionally, Ezdehar’s subsidiary Daly Dress is preparing to expand into the Saudi market next year, followed by further growth across the Gulf region,
Earlier this year, Ezdehar acquired an 80% stake in Seta Textiles, owner of Daly Dress and Bermuda brands, as part of a $70 million investment plan by 2024.
Founded in 2015, Ezdehar manages over $300 million through its two funds.
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