Assets under Egypt's sovereign fund record $12 bln: Planning minister

Ahram Online , Wednesday 19 Jul 2023

Assets under the management of the Sovereign Fund of Egypt (SFE) recorded $12 billion, Chairman of the fund and Minister of Planning and Economic Development Hala El-Said stated on Wednesday.

Egypt s Sovereign Fund. logo
Egypt s Sovereign Fund. logo


The SFE is the world's 47th largest sovereign wealth fund, according to a report by global research corporation SWF Institute.

The Egyptian fund came 12th in the Middle East in the same report.

The SFE has a large potential to expand its assets and ambitious plans to enter into partnerships with the private sector in the areas of renewable energy, water desalination, education, agriculture, technology, fintech, infrastructure, and tourism, El-Said noted.

She added that the fund is the property of Egyptians, stressing that its purpose is to create investment opportunities for national and foreign investors to create a surplus for future generations.

The SFE is tasked with preparing 32 state-owned companies to be sold in an initial public offering or to strategic investors.

Ownership of a host of state-owned assets has been recently transferred to the SFE for this reason.

The fund was established in 2018 to attract foreign investments and allow for public-private partnerships.

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