Emerging markets private equity firm Affirma Capital is planning to invest USD 20-100 mn in at least one Egyptian business this year, marking its first entry into the Egyptian market, Middle East and North Africa head Taimoor Labib said, according to a report in Al Mal’s print edition. The firm is currently considering investments in five different businesses in the healthcare, medicines, food, and consumer goods sectors, and will give priority to medium sized businesses, Labib said, without giving further details. Affirma had in 2019 said it was looking at potential investments in Egypt’s food and beverage and retail sectors, and that it had earmarked USD 700 mn for acquisitions in the Middle East and Africa.

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