Egypt’s three biggest state lenders to launch new investment fund

Egypt’s three biggest state banks, the National Bank of Egypt (NBE), Banque Misr, and Banque du Caire will jointly launch an investment fund likely to be worth 1 billion Egyptian pounds ($63.9 million).

The fund will be investing in various sectors, and mainly in the start-ups, Yehia Aboul Fotouh, deputy chairman of the NBE, told Amwal Al Ghad on Wednesday.