Egypt’s sovereign fund eyes investment in fintech sector
The Sovereign Fund of Egypt said the tourism sector represents 20-20% of the fund's total investments
Man using laptop at desk in home office. Image used for illustrative purpose.
By Ruba Alrashed, Arab News
RIYADH: The Sovereign Fund of Egypt is exploring investment opportunities in the fintech sector with a focus on small and medium projects, Ayman Suliman said in a CNBC Arabiya interview.
Talking about investments in other sectors, the chief executive officer of the fund said the tourism sector represents 20-20 percent of the fund's total investments.
Suliman also mentioned the fund’s plans to transform the historic Bab Al-Azab area in Cairo’s Salah Al-Din Al-Ayoubi Citadel into the first integrated innovation zone in the Middle East and North Africa.
He said several projects in the health sector are also being studied such as the expansion of pharmaceutical exports.
“The health sector is a mainstay in the fund’s investment portfolio,” the CEO added.
The fund aims to attract private investments in Egypt’s underutilized assets and create wealth for future generations and boost the country’s economic growth.
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