Egyptian Sovereign Fund for Arabia: We aim to add assets of £ 15 billion next year

The executive director of the Sovereign Fund of Egypt, Ayman Soliman, said the fund’s issued capital was fully hedged at $ 5 billion.

Suleiman added in an interview with Al-Arabiya, that an increase in assets to the fund has been added by around £ 15-16bn, and the goal is to double it by the same size next year.

He stressed that the fund’s sources of funding are multiple, including an increase in cash, plus a raise in nature, which is assets transferred to the fund and calculated as part of the capital increase.

He explained that the first increase in nature was added to the fund, noting that the second increase in nature of the activities aims to provide land for partnerships in the field of education and health services.

He stressed that the fund has agreed with the Saudi and Emirati sovereign wealth funds on a series of investments in the sectors of infrastructure, health care and financial services.

He recalled that the restructuring of the two companies, Safi and Watania, affiliated with the National Service Authority, will soon be completed.

He revealed that the stock exchange is not in favor of Safi and Wataniya’s offer during the year in course.

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