EEP Enters into Definitive Agreements to Acquire a Majority Stake in Egypt’s Prime Education Content Developer, Selah El Telmeez
– Egypt Education Platform (EEP), the fastest growing education service provider in Egypt, and the Sovereign Fund of Egypt (TSFE), announced today they have entered into definitive agreements on the 6th of October, 2022, to acquire a majority stake of Selah El Telmeez (SET), the famous 60 years old legacy K-12 education brand, bringing together EEP’s unique education offering experience together with Egypt’s prime developer of K-12 education content that serves millions of Egyptian students.
Malta, Egypt, France and Spain Sovereign Funds welcome Greece Sovereign Fund as a new member of the European, Middle East and North Africa Sovereign Wealth Funds Foundation
Malta Government Investments (MGI), the Sovereign Fund of Egypt (TSFE), Bpifrance and COFIDES are pleased to announce that Growthfund, The National Fund of Greece, signed a memorandum of understanding yesterday in Madrid to become a member of the EMENA Foundation.
The Sovereign Fund of Egypt signs several agreements with major investors in the field of green hydrogen production in Egypt
Under the umbrella of the collaborative effort between Ministry of Electricity & Renewable Energy, the Suez Canal Economic zone (SCZONE) and TSFE, the fund continues to offer and create new opportunities in the field of green hydrogen, especially as it has become one of the most important sectors in the world.
Malta, Egypt, France and Spain Sovereign Funds Establish the EMENA Sovereign Wealth Funds Collaborative Network
Malta Government Investments (MGI), the Sovereign Fund of Egypt (TSFE) and Bpifrance signed a deed to found the “The European, Middle East and North Africa Sovereign Wealth Funds Foundation” in Malta, laying the basis for a Mediterranean collaboration network. In addition, the Compañía Española de Financiación del Desarrollo (COFIDES) signed a memorandum of understanding with the three parties with the intention to become a member of EMENA.
The Sovereign Fund of Egypt in partnership with Mobica and GEMS:
Dr. Hala El-Said, Minister of Planning and Economic Development and Chairperson of The Sovereign Fund of Egypt (TSFE) witnessed laying the foundation stone of two schools in the Cosmic Village in Sixth of October City, in partnership between The Sovereign Fund of Egypt, Mobica & GEMS, serving TSFE’s goals of utilizing its transferred assets and supporting education in addition to achieving a good return on investment. Under this partnership model, TSFE & Mobica will incorporate this new entity, while GEMS will run the schools in return for a management fee.
A US Consortium wins the development and repurposing of The Tahrir Complex pledging investments in excess of US$200 million
Prime Minister, Dr. Moustafa Madbouly, witnessed the announcement of the selected winning US Consortium, to develop and repurpose the Tahrir Complex. The winning US Consortium consists of three major global expert companies, the US Global Ventures Group, US Oxford Capital Group, and Al-Otaiba Investment Company. The signing ceremony was attended by H.E. Dr. Hala El-Said - Minister of Planning and Economic Development and Chairperson of The Sovereign Fund of Egypt and Mr. Ayman Soliman – CEO of The Sovereign Fund of Egypt.
The Sovereign Fund of Egypt and EFG Hermes Holding sign agreements for the acquisition of 76% of Arab Investment Bank
The Sovereign Fund of Egypt (TSFE) and EFG Hermes Holding S.A.E (EFG Hermes, HRHO on the Egyptian Exchange) are pleased to announce that they have executed agreements to acquire 76% of the capital of Arab Investment Bank (AIB or the Bank). The acquisition will be structured as a capital increase that will increase the paid-in capital of the Bank to EGP 5 billion, making it compliant with the regulatory requirements of the Egyptian Banking Law.
The Sovereign Fund of Egypt Subscribes to EFG Hermes’ Education Fund and Partners with GEMS Egypt
TSFE and GEMS Egypt also signed a memorandum of understanding to develop and operate two premium national schools West of Cairo, which will be built over 30,000 sqm with a capacity of 2,500 students each. The schools will be constructed on TSFE-owned land in line with its mandate to create value out of previously unutilized assets.
EFG Hermes Holding and the Sovereign Fund of Egypt to start due diligence on the Arab Investment Bank
EFG Hermes Holding S.A.E. and the Sovereign Fund of Egypt are pleased to announce that they have received the approval of the Central Bank of Egypt to conduct due diligence on the Arab Investment Bank. The parties aim to acquire 76% of the capital of the Bank mostly through a capital increase as well as potentially through the acquisition of some secondary shares from the National Investment Bank, the current majority shareholder. In case of transaction completion, EFG Hermes Holding S.A.E will have an ownership in the Bank of not less than 51% and the Sovereign Fund of Egypt an ownership of not less than 25% with the remaining stake continuing to be held by the National Investment Bank and the Federation of Arab States
The Sovereign Fund of Egypt appoints Abdalla ElEbiary as Chief Investment Officer
The Sovereign Fund of Egypt (TSFE) announced the appointment of Abdalla ElEbiary as Chief Investment Officer, in line with the fund’s strategy of attracting and hiring highly accomplished calibers to lead and execute the fund’s strategy.
The Development Of "Bab Al-Azab" Area In The Citadel Is The First Cooperation Project Between The Sovereign Fund Of Egypt And The Supreme Council of Antiquities.
The Supreme Council of Antiquities and the Sovereign Fund of Egypt signed a contract to develop and manage the provision of services to visitors of the "Bab Al-Azab" area of Salah al-Din al-Ayyubi’s historic Citadel. The Council will solely manage the historic site while the Fund will manage the operations and services in the Bab Al Azab site which reflects the new collaboration between both parties to revive the area and increase its historic and economic value.
The Sovereign Fund of Egypt and Concord International Investments to Establish a Diversified Healthcare Fund
The Sovereign Fund of Egypt (TSFE) and the New York based investment manager, Concord International Investments (Concord International), announced today the signing of a memorandum of understanding (MOU) which entails the cooperation of the two entities to establish a joint venture to raise and manage a specialized healthcare fund that will invest primarily in Egypt, as well as the Middle East and Africa.
The Sovereign Fund of Egypt and the National Service Projects Organization Sign a Cooperation Agreement to Co-Invest with Private Investors in NSPO Companies
The Sovereign Fund of Egypt and the National Service Projects Organization (NSPO) signed today a cooperation agreement to help attract private investors to the Organization’s assets and companies, in accordance with President Abdel Fatah El Sisi’s call to expand the ownership base of some assets owned by Organization.