New sports investment company

Abeer Anwar , Tuesday 30 May 2023

Egypt has set up the first sports investment company for the Paralympic movement, reports Abeer Anwar



Hossameddin Mustafa, president of the Egyptian Paralympic Committee (EPC), recently announced the setting up of the first ever sports investment company for the Paralympic movement.

In a press conference held at Abdeen Palace and opened to foreign journalists, Mustafa also announced the hosting of a number of international championships.

But the conference was headlined by the establishment of the first joint stock company in the history of Egyptian sports. The company is set up by the Egyptian Paralympic Committee, the Paralympic Sports Federations, the Olympic Sports Federations, and all affiliated committees under the name Paralympic Company for Investment in the Sports Field.

He also stated that the conference comes at a crucial time, reflecting the significant progress in Paralympic activities in Egypt. He emphasised the strong support received from the Egyptian government, represented by the Ministry of Youth and Sports and various specialised entities, under the directive of President Abdel-Fattah Al-Sisi, a major supporter of Paralympic activities. Mustafa praised the continuous recognition and support provided to athletes with disabilities and expressed his appreciation for their “honorable and diverse” accomplishments.

The company is to operate in sports investment to increase support for the committee and various Paralympic federations. It will also focus on sports marketing, sports equipment and devices for people with disabilities, in addition to organising local and international competitions, providing sports consultations and administrative structures, and other areas proposed by the federations. The company will have a capital of LE20 million, with the Paralympic Committee holding a 20 per cent stake.

In a recorded video message, Egyptian Minister of Youth and Sports Ashraf Sobhi expressed his satisfaction with the progress made by the Egyptian Paralympic Committee and the “harmonious relationship” among its board members. He highlighted the committee’s positive impact on the entire Paralympic community in Egypt and affirmed that the state stands by all athletes, particularly those with disabilities, providing them with all necessary support. He called upon them to exert their utmost efforts in “raising the Egyptian flag high” in continental and international championships, and to “prepare well” for the 2024 Paris Paralympic Games.

The press conference also unveiled the new logo of the Egyptian Paralympic Committee, officially approved by the International Paralympic Committee. Additionally, it was announced that the Egyptian Paralympic Committee had received the International Organisation for Standardisation (ISO) certification in management.

The conference highlighted upcoming international tournaments and events to be hosted by Egypt, including the World Para Powerlifting Championships and the Egypt International Swimming Championship in October and November. Furthermore, Egypt has submitted a bid to host the 2027 World Para Swimming Championships. The conference also discussed the preparations of teams for the 2024 Paris Paralympic Games.

The Egyptian Paralympic Committee will hold several international sporting events in the near future. The International Paralympic Committee celebrated Egypt’s winning bid to host the VISTA scientific conference which will be held for the first time outside of Europe. The conference, scheduled from 31 October to 3 November, will involve 450 researchers and specialists.

The VISTA organisation provides an important international platform for scientists to exchange the latest information, research, development, and experiences related to sports for people with disabilities and the Paralympic movement.

The Paralympic Games is a periodic series of international multisport events involving athletes with a range of disabilities.


A version of this article appears in print in the 1 June, 2023 edition of Al-Ahram Weekly

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