Local private and public equities are on the menu for Egypt Post in 2024: Egypt Post could invest as much as EGP 6 bn throughout the year “split between private equity investments and investments in EGX-listed companies, a source at Egypt Post told Enterprise. “The investments will target a number of diverse sectors to reduce risk,” they added.

The details: Egypt Post likes “logistics, communications, microfinance, and consumer finance,”  board chair Sharif Farouk told Asharq Business. Egypt Post hopes to see its profits rise 30% this year to EGP 5 bn, Farouk told the outlet.

It has already been investing big on the EGX: Egypt Post upped its holding of local equities some 20% last year, bringing its total assets on the financial market to EGP 6 bn, Farouk added.

A vote of confidence in the EGX from one of the country’s most interesting asset managers: Egypt Post sits on massive deposits (name someone who doesn’t have an Egypt Post saving account…) and the knock on the institution has always been that it has sat on the cash or, at best, allocated it to government paper.

** This story was amended on  Monday, 19 February to clarify that Egypt Post will be doing the investing and not Post for Investment. 

Tags: