The Sovereign Fund of Egypt (TSFE) has approved a new sub-fund focused on industrial investments, with issued capital of EGP 1 billion ($19.6M), according to the announcement.
The Egyptian Sovereign Fund Sub-Fund for Industrial Investment will be fully owned by TSFE and invest through partnerships with private investors and institutions. Its mandate covers industrial areas with export and growth potential, including automotive components, electronics, food and beverages, textiles and ready-made garments, and pharmaceuticals.
The vehicle has authorized capital of EGP 10 billion, giving it room to increase its capital over time beyond the initial issued amount. The authorized figure represents a ceiling rather than capital currently deployed.
Its resources may include its capital, assets transferred to it, investment returns, loans and other financing facilities. The sub-fund will operate for 99 years from the day after the establishment decision is published, with the possibility of an extension.
TSFE, established in 2018, already operates sector-focused vehicles covering areas such as infrastructure, tourism and real estate, healthcare and pharmaceuticals, and financial services and digital transformation. The new industrial vehicle adds another dedicated channel for investment and partnerships in Egypt’s manufacturing economy.
Source: Waya
