Ezdehar in talks with IFC over USD 10-15 mn in investment

INVESTMENT WATCH- Ezdehar is in talks with the IFC for a USD 10-15 mn commitment to its inaugural Ezdehar Egypt Mid-Cap fund, sources told Al Mal. A delegation from the IFC will be in Egypt in October to resume talks. The source add that Ezdehar has acquired a majority stake in aluminum fabricator Alu Nile and is also targeting USD 10 mn worth of acquisition targets before the end of the year. Ezdehar’s investors include the EBRD, the CDC Group, Dutch development bank FMO, and other Egyptian business leaders. The Ezdehar Egypt Mid-Cap fund has raised USD 85 mn so far and is a generalist fund eyeing growing Egyptian companies and family enterprises.