Coronavirus rearranges Egypt’s Sovereign Wealth Fund priorities, puts health sector on top

Tharaa, Egypt’s sovereign wealth fund, said that coronavirus pandemic has contributed in rearranging its priorities, it has put the healthcare sector among six other vital sectors at the top of the list.

In a virtual press conference attended by Amwal Al Ghad English, its Executive Ayman Soliman said that the fund has included food and pharmaceutical manufacturing, healthcare services and financial services and financial inclusion sectors at the top of its priorities

Investments in financial technology [fintech] has become a must, especially as some sectors see a recovery due to the pandemic, he said.

He revealed that talks are ongoing with a number of investors over investment opportunities in the sector, without providing further details.

Soliman said the fund’s priorities also include investments in manufacturing and infrastructure.

“There are incoming requests to the fund for investments in infrastructure. Our goal is to use capital recycling in the sector,” he said.