TDF Says Egypt’s Political Events Delay Investing in New Firms

IT expert Mr. Amin Khair El-Din, Chairman of Technology Development Fund(TDF) revealed that the fund is awaiting the improvement of the country in order to resume its investments fully, pointing out that it will focus on pumping fresh investments for the current firms among its portfolio which are around 17 firms.

Khair El-Din added that the fund has invested EGP6 million investments with Vodafone Egypt and with Swipe’n tap, a Cairo-based interactive marketing platform that focuses on the hospitality industry.

He explained that TDF agreed to invest again in one of the most successful firms that has been previously invested in, adding that the total market value of the company reached double 12 its value, in compared to the first pump, rejecting to unveil the firm’s name.

He asserted that TDF sector is one of the most attractive sectors for investments along with its continuation to grow in the light of the decline of a large numbers of sector during the current economic crisis in Egypt, stressing that the ongoing period has to witness enhancing the youths to develop their ideas in ICT sector.

It is worth mentioning that TDF which was established as a partnership fund between the public and private sectors in 2004,  CI capital, the Egyptian post ,Telecom Egypt,  Faisal Islamic Bank, Banque Misr, Misr Iran Development Bank and Export Development Bank of Egypt.