Affirma Capital looking at acquisition opportunities in Egypt

INVESTMENT WATCH- Affirma Capital eyeing potential acquisitions in Egypt: Affirma Capital is eyeing Egypt as it plans to complete at least one acquisition in the Middle East and Africa this year, Bloomberg reports. Affirma founding partner Taimoor Labib says that Egypt, along with Jordan and Nigeria, are countries that the company is particularly interested in. "Post devaluation, for USD-based investors, it’s a great time to go into Egypt. It’s still early, but we’ve looked at quite a few businesses especially in the food and beverage and retail sectors," he said. The firm has a reported USD 700 mn to spend — which is higher than previously thought — and is said to be looking at investments that will yield an internal rate of return of 25%.