Egypt’s Businessmen Pledge EGP5 bln to Shore up Economy

During an official Iftar ceremony held yesterday upon an invitation from President Abdel Fattah El-Sisi in Ettihadiya presidential palace on Sunday, key Egyptian businessmen have pledged EGP5 billion worth of donations to support the national economy.

These donations include EGP 3 billion from Orascoms and Sawiris family, and EGP 1.200 billion from Eng. Mohamed Al-Amin, which represents half his equity in Amer Group.

They also include EGP 500 million from the charity fund in Amer Group, EGP 30 million from businessman Mohamed Farid Khamis, EGP 100 million from Ahmed Abou Hashima, EGP 150 million from Hassan Ratib and $6.5 million from Salah Diab.

In addition, Alaa Al-Sakty, head of Badr Investors Association, announced the establishment of a company with EGP 200 million capital, which will carry out infrastructure plans in Badr City.

Source:Mubasher