{"id":76412,"date":"2023-03-09T02:00:28","date_gmt":"2023-03-09T02:00:28","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/03\/09\/afc-identifies-big-investment-potential-worth-usd-1-bn-in-egypt\/"},"modified":"2023-03-09T02:00:28","modified_gmt":"2023-03-09T02:00:28","slug":"afc-identifies-big-investment-potential-worth-usd-1-bn-in-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/03\/09\/afc-identifies-big-investment-potential-worth-usd-1-bn-in-egypt\/","title":{"rendered":"AFC identifies big investment potential worth USD 1 bn in Egypt"},"content":{"rendered":"

<\/a> AFC set to spend big in Egypt<\/strong>: The Africa Finance Corporation (AFC) has identified \u201can immediate project pipeline\u201d worth over USD 1 bn in infrastructure projects in Egypt, it announced in a press release (pdf)<\/a>. The investments would be made in key sectors in the country including renewable energy, natgas, heavy industries tech, telecoms, banking and finance.<\/p>\n

Could it be Lekela?<\/strong> AFC will primarily look to invest in firms where it has \u201cinfluence and representation on the board,\u201d Executive Director and Chief Investment Officer Sameh Shenouda was quoted as telling Al Arabiya<\/a>. AFC and our friends at renewables player Infinity Group signed an agreement last year<\/a> to acquire 100% of pan-African renewables firm Lekela Power from private equity firm Actis and Irish wind and solar developer Mainstream Renewable Power last summer. The transaction \u2014 which reportedly values Lekela at USD 1.5 bn \u2014 would be Africa\u2019s largest renewables acquisition. AFC and Infinity aim to raise USD 2.5-4 bn over the next four years to double the capacity of Lekela.<\/p>\n

Egypt also became a member:<\/strong> Egypt joined AFC as the first North African sovereign shareholder after making an undisclosed equity investment, according to the statement. \u201cAs the largest North African economy, Egypt\u2019s investment leads the way for other countries and investors from the region to join AFC\u2019s shareholders and use its platform to boost regional trade and co-investment opportunities,\u201d the statement reads.<\/p>\n","protected":false},"excerpt":{"rendered":"

AFC set to spend big in Egypt: The Africa Finance Corporation (AFC) has identified \u201can immediate project pipeline\u201d worth over USD 1 bn in infrastructure projects in Egypt, it announced in a press release (pdf). The investments would be made in key sectors in the country including renewable energy, natgas, heavy industries tech, telecoms, banking […]<\/p>\n","protected":false},"author":1,"featured_media":76413,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[152],"tags":[221,1501,11,1502,151,1299],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-76412","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-actis","tag-afc","tag-enterpriseclimate","tag-infinity-group","tag-investment-watch","tag-lekela","wpautop","entry"],"acf":{"mongo_id":"6dff3772-1d53-4f15-afa6-79046007acf9","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/3\/Earnings-counting-money-1600px.jpg","photo_position":"above","related_issue":[76401],"teaser":"","voice_url":""},"yoast_head":"\nAFC identifies big investment potential worth USD 1 bn in Egypt - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/09\/afc-identifies-big-investment-potential-worth-usd-1-bn-in-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AFC identifies big investment potential worth USD 1 bn in Egypt\" \/>\n<meta property=\"og:description\" content=\"AFC set to spend big in Egypt: The Africa Finance Corporation (AFC) has identified \u201can immediate project pipeline\u201d worth over USD 1 bn in infrastructure projects in Egypt, it announced in a press release (pdf). 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