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Abou Hashima-controlled companies are looking to grow: Egyptian Industrial Investment Group is looking to set up a major renewables project and MAFI Agricultural Produce Industries wants to either IPO or sell a stake to a strategic investor by 2030, Chairman Ahmed Abou Hashima told Asharq Business (watch, runtime: 23:04).
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#1- The Egyptian Industrial Investment Group plans to set up a USD 250–300 mn renewable energy project in the coming weeks. The large-scale project will be developed in partnership with international players, Abou Hashima said, without disclosing any specific details — including project structure, location, and timeline.
REMEMBER- The project aligns with Egypt’s national energy strategy, which targets EGP 100 bn in private-sector renewable investments over the next two years. The government aims to generate 42% of its energy from renewable sources by 2030.
#2- MAFI Agricultural Produce Industries is considering either an IPO or a stake sale to a strategic investor by 2030, Abou Hashima said. The company’s founder also announced that its USD 300 mn agri-food industrial complex in Sadat City is expected to begin operations in 1Q 2026, launching at 60% of its annual production capacity of 100k tons.
The complex will be fully USD-funded by foreign investors, including First Abu Dhabi Bank, which is expected to play a key role in the second phase of the project, Abou Hashima said.
Funding update: The funding structure has shifted since January 2025, when Beltone Investment Banking, acting as sole financial advisor and lead coordinator, secured a total of USD 180 mn for the project. This included USD 108 mn in long-term financing from a syndicate of local banks led by Banque Misr — alongside Suez Canal Bank and Al Baraka Bank — and USD 72 mn in equity from regional investors.
Looking ahead: MAFI is conducting feasibility studies in multiple African countries with the aim of replicating the agri-industrial model in markets rich in water and agricultural resources.
