State-owned Funds Will Enable Egypt Finance More Infrastructure Projects

Prime Holding for Financial Investments SAE (PRMH.CA) CEO and Vice Chairman Mohamed Maher said the idea of establishing specialized Mutual Funds will let the capital market becoming unconventional, stressing the necessary of the country to enter with the three influential elements on the market including the Egyptian Financial Supervisory Authority (EFSA), the Firms and the investors in order to achieve the required goal from establishing the funds.

Maher added in a keynote speech at the annual conference of “Mutual Funds’ Role in Supporting Egypt’s Economy that the country’s entering in the industry of capital market and promoting Mutual funds will create major role for these funds regarding financing infrastructure projects.

It has to have a dialogue between EFSA and the ongoing and next government for financing the plans of Egypt’s projects through specialized Mutual Funds to finance roads, power plants and cement factories, noting that these funds will attain high economic return for the state, Maher asserted.

He further illustrated that establishing Mutual Funds will not Prohibit to develop the current presence funds in the market, as the weight existing funds does not represent 2% of the size of the market.