Egyptian-American Enterprise Fund more upbeat about Egypt economy

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The Egyptian American Enterprise Fund (EAEF) plans to invest in Egyptian exporting firms propelled by the country’s recent economic reforms, its executive director Amal Enan said Tuesday.

Now, the investment in exporting sector has become a focus of attention for EAEF especially after the recent economic reforms and Egyptian pound floatation, Enan stated.

Egypt has to focus on exports through the creation of sectoral and market diversity in different fields like manufacturing and financial markets, the EAEF added.

The EAEF supports companies work in line with its strategy, adding that EAEF is considered a long-term investor, finances for ten years, and that’s mean it doesn’t exit companies quickly, Enan added.

She further said EAEF’s strategy depends on providing capital to achieve development that sends messages to foreign investors to invest in Egypt.

The U.S. government is the main investor in the EAEF, joining several key parties such as the U.S. Congress, the U.S. Agency for International Development, and the White House, Enan speaking at an Euromoney conference in Cairo.

“We coordinate with the Egyptian government in supporting development needs for the country.” she said.

The not-for-profit, privately-managed corporation EAEF’s board of directors consists of three Egyptians, three Egyptian-Americans, and three US citizens, Enan added.

Launched in 2013, the EAEF was seeded with US government funds to promote the development of the Egyptian private sector.