Egyptian Sharia-compliant investment firm Bokra is set to launch three new investment funds in 2024, expanding its portfolio into real estate, medical devices, and household appliances. The move signals a significant expansion for the company, which recently introduced a gold investment fund named “El Shakmagia.”
Quick Facts
- Three new investment funds launching this year.
- Targeting real estate and manufacturing sectors.
- Also arranging sukuk issuances up to EGP 15 billion.
Targeting Key Sectors
According to founder and CEO Ayman Elsawy, the firm is diversifying its offerings with three distinct funds, all slated for launch by the third quarter of this year.
The largest of the new funds will focus on real estate, with a target size between EGP 200 million and EGP 250 million ($3.8 million – $4.8 million). This fund will specialize in residential properties in governorates outside of Cairo.
Bokra is also launching two funds aimed at the manufacturing sector. A medical equipment fund is planned with a target size of $6 million to $7 million, focusing on firms that manufacture and export medical devices. A separate home appliance fund is expected to have a size of $3 million, similarly targeting manufacturing and export companies.
Expanding into Sukuk Issuance
Alongside its new funds, Bokra is actively working on structuring sukuk issuances for local companies. “We are currently working on issuing sukuk worth EGP5 billion, targeted to be issued next month,” Elsawy stated, confirming the issuance is for a local company listed on the stock exchange.
He added that the company is also arranging further issuances valued between EGP 10 billion and EGP 15 billion, which are expected in the third quarter of this year for several Egyptian financial companies.
About Bokra
Established in Egypt in 2023, Bokra Holding is a financial services company offering Sharia-compliant investment solutions. Its operations include fund establishment, promotion and underwriting, issuance of debt products, portfolio management, and venture capital. Earlier this year, the firm launched its first product, a gold investment fund called “El Shakmagia.”
Source: Zawya
