Naguib tells Nasr he will increase investments within three months

Naguib Sawiris told Investment and Cooperation Minister Sahar Nasr he will ramp up new investments in Egypt within three months. Nasr met with Naguib on Thursday to discuss increasing his investments here at home and views on how to improve the business climate. Nasr told Sawiris her role is to resolve problems facing investors. On that front, Nasr was credited for moving along CIB’s sale of investment bank CI Capital to a consortium of investors, with a source close to the transaction saying “she’s being very hands on — a nearly year-old transaction is closing because she is making the clearing of hurdles a priority.” Naguib’s OTMT-owned subsidiary Beltone Financial had bid for CI Capital last year and fell short of the mark after EFSA effectively declined to give the acquisition regulatory clearance.