UAE-based Gulf Capital opens country office in Egypt, plans to double investments over next five years

Doaa A.Moneim , Wednesday 2 Mar 2022

UAE-based Gulf Capital — an equity investment company that has been investing in the Egyptian market for more than 10 years — announced on Wednesday the opening of its office in Egypt.

Gulf Capital
During the round table meeting which was held in Cairo with the company s co-founder and CEO Karim El Solh on Wednesday 2 March, 2022.

The announcement came during a media round table held in Cairo with the company’s co-founder and CEO Karim El-Solh.

In his answer to Ahram Online’s question about Gulf Capital’s operation in the Egyptian market and the company’s future plan for it, El-Solh said that the company intends to double its total investments in the Egyptian market — which amount to EGP 5 billion — over the coming five years.

He added that the company focuses on the sectors of the future, which include sustainability, solar energy, renewables, health tech, fintech, and business services.

“These sectors are the same ones Egypt’s government is focusing on to achieve the country’s economic growth,” El-Solh explained.

He also said that the company is planning to offer two of its private equity companies under the Initial Public Offering (IPO) Programme in Egypt, adding that the company already invests in nine companies in the local market.

Furthermore, the company will launch its fourth equity investment portfolio in the summer season and Egypt’s share of these investments will be significant, with $2.5 million expected to be pumped in the market through this portfolio.

“Egypt continues to be an attractive and fast-growing market and a major investment destination for our company and our global investors. Opening a local office and hiring a senior Egyptian investment team will allow us to accelerate our investment pace in Egypt in promising sectors such as the digital economy and healthcare and to keep us closer to our existing portfolio companies and business partners.”

He noted that Egypt has a promising technology and fintech landscape and that this potential makes the country a rising star in the global technology scene.

Recently, the company named Miray Zaki as its newly appointed managing director and head of Egypt.

Miray was previously responsible for managing a large portfolio of investments across the US, Europe, Africa, and Asia within multiple asset classes, including private equity, venture capital, and public equity at the Abu Dhabi Investment Authority and the Sheikh Zayed Al-Nahyan Foundation.

Additionally, the company appointed Fady George, who is experienced in private equity and investment banking, as its vice president, having previously been a member of SPE Capital Partners’ inaugural $250 million Africa Fund, a member of Beltone Financial’s investment banking team and a member of Axonic Capital’s US real estate investment team.

“Our long-term commitment to Egypt and the broader Middle Eastern and African regions remains rock-solid. The new office opening in Egypt follows our recent office opening in Singapore last December, allowing Gulf Capital to invest across growth markets from North Africa to Southeast Asia,” El-Solh expounded.

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