Egypt’s Premiere Eyes Launch of New Agricultural Investment Fund

Financial service company Premiere Securities S.A.E. is targeting the inception of a new agricultural investment fund within this year, the chairman announced on Monday.

Speaking to Amwal Al Ghad’s Arabic website, Premiere Securities’ Chairman Dr. Ahmed Adel said the anticipated investment fund will be through an estimated capital of EGP 500 million.

“This comes within the framework of Premiere’s 2014 strategy to focus on boosting the investment fund category through the issuance of new ones.” Adel noted

Moreover, Adel referred that he is following up the ongoing amendments to the regulations governing the issuance of investments funds in Egypt so as to start brining into effect the company’s plans.

Elsewhere, Premiere’s 2014 strategy also includes the activation of the direct investment deals as well as enlisting two more firms to the Egyptian bourse of the SMEs – namely NILEX; by virtue of its Nominated Advisor licence.