Egyptian tycoon Nassef Sawiris announced the launch of Nile Holding Investments (NHI), a subsidiary owned by his family with the aim of direct investment in Egypt joining hands with a group of investors from the GCC, Europe and the US.
The new subsidiary plans to share with 25% in the capital of investments in Duet-CIC Egypt Opportunities Fund; a private equity fund launched by Duet Group and CI Capital with $300 million capital to invest in Egypt’s consumer industries provided that such investments do not conflict with activities of Orascom companies.
NHI also contributed to a new investment in Egypt’s healthcare sector through a deal worth EGP 400 million, whose details will be announced in days. It is currently assessing a number of new projects in partnership with strategic investors and global private funds.
“Egypt is in a position that allows it to achieve extraordinary economic growth in the coming years and direct investments in key sectors that still offer great investment opportunities,” said Nassef Sawiris, who announced the intention of his company to contribute to the fund.