Egypt Post to Discuss Investments in New Suez Canal Project This Week

The National Postal Authority – Egypt Post will discuss in its upcoming board meeting this week the size of investments planned to buy the Suez Canal Certificates, dedicated to fund the new waterway along the Suez Canal.

Senior sources in Egypt Post revealed that the board had not discussed yet the size of investments in Suez Canal certificates, stressing that the authority’s Investment Committee will be completing an investment feasibility on the certificates this week.

Egyptian government has so far raised around EGP20 billion in three days since the issuance of the Suez Canal investment certificates.

The sources also told Amwal Al Ghad that the certificates are good investment opportunities for the private economic entities with a high interest rate by value of 12%, which is higher than the rate of all saving pools existing in the local market.

Egypt post’s investments reached around EGP 135 billion, including EGP90 billion in the National Investment bank and EGP45 billion in other instruments with 13.8% average return.