Home Business ADQ invests in several transactions in Egypt

ADQ invests in several transactions in Egypt

by Dubai Forum
0 comment
Dubai Forum Default

ABU DHABI, 13th April, 2022 (WAM) — ADQ, an Abu Dhabi-based investment and holding company, has undertaken several transactions in publicly listed companies within key sectors of Egypt’s economy, building on its long-term commitment to investing in the country’s economic growth through its $20 billion joint strategic investment platform.

The investments reflect ADQ’s continued confidence in Egypt’s strong economic potential. The transactions include stakes in Commercial International Bank (CIB), one of Egypt’s largest banks; Fawry, the leading digital transformation and e-payments platform; Alexandria Container & Cargo Handling Company, a prominent logistics player; Misr Fertilizers Production Company (MOPCO) and Abu Qir Fertilisers & Chemical Industries, two key industrial companies in Egypt.

The Egyptian economy has proven to be resilient over the past several years. Real GDP growth continues to outpace the majority of emerging market economies with current year projections estimated to reach 5.5 percent. With its strategic location and the large size of its domestic market, the investments were driven by taking into account the underpinnings of Egypt’s strong domestic consumption, productivity growth, enormous untapped export potential, and positive trade outlook.

Mohamed Hassan Alsuwaidi, Managing Director and Chief Executive Officer of ADQ, commented, “The UAE and Egypt share a deep relationship underpinned by strong economic and trade ties. Since the inception of ADQ’s $20 billion strategic investment platform with the Sovereign Fund of Egypt, we have executed several investment opportunities in Egypt, to deliver robust commercial benefits and sustainable growth.

“The recent transactions are a testament to our long-term commitment to elevate our investment partnership with Egypt and continue deploying capital in projects of commercial importance.”

ADQ is a long-term investor in the Egyptian economy, with an office in Cairo. Since the platform’s inception, a number of strategic investments and partnerships have been realised, resulting in strong financial returns.

WAM/Rola Alghoul/Esraa Ismail

You may also like

Leave a Comment

About Us

Dubai Forum your daily news roundup covering news from Dubai, the United Arab Emirates and the Middle East region in general.

We share news about #people, #travel, #fashion, #startups and #Dubai #communities #DubaiForum