Egypt’s Arab Contractors looks to funds to double African businesses

Egyptian-based leading Arab Contractors is looking for suitable funding opportunities to double its businesses in Africa in the coming years, an official from the Egyptian firm said Wednesday.

According to Ibrahim Mabrouk, Head of Africa sector at Arab Contractors, AC’s plans for a greater presence in Africa depend on finding funding offers to enable it to carry out projects there.

Arab Contractors has significant presence in 18 African markets, and will start its first project in Kenya early next year, Mabrouk added.

The volume of businesses of the Egyptian company in Africa amounts to US$3.2 billion, notably in road projects, the official stated.