{"id":593227,"date":"2019-11-21T04:25:58","date_gmt":"2019-11-21T04:25:58","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/21\/tharaa-will-not-crowd-out-private-sector-soliman\/"},"modified":"2019-11-21T04:25:58","modified_gmt":"2019-11-21T04:25:58","slug":"tharaa-will-not-crowd-out-private-sector-soliman","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/21\/tharaa-will-not-crowd-out-private-sector-soliman\/","title":{"rendered":"Tharaa will not crowd out private sector -Soliman."},"content":{"rendered":"

<\/a> Tharaa wants to engage with<\/strong> \u2014 not crowd out \u2014 the private sector -Soliman.<\/strong> The CEO of Egypt\u2019s sovereign wealth fund, Tharaa, denied wanting to crowd out the private sector, telling Bloomberg that the fund wants to attract fresh capital to the market by engaging with private firms (watch, runtime: 6:04)<\/a>. Ayman Soliman told the news channel in a televised interview that Tharaa does not plan on buying out any private investors, nor will it compete for private investment opportunities unless businesses themselves invite the fund to help them scale up. The fund will create \u201cits own class of assets\u201d to bring to the market, but Soliman claimed that this will not crowd the market but instead make it more diverse.<\/p>\n

Tharaa\u2019s message to investors: Invest in<\/strong> Egypt now.<\/strong> Soliman promised investors access to exclusive asset classes, better valuations and higher returns in the future if they put their money into Egyptian equities. The market, he claimed, would become \u201cvery attractive\u201d in the coming years if the country manages to secure more foreign direct investment.<\/p>\n

If any military companies go to market, Tharaa probably won\u2019t have anything to do with it<\/strong>, Soliman said. \u201cI don\u2019t know if the fund will have any role\u201d in the potential process<\/a> of listing military-owned companies on the EGX, but it could step in if there is agreement that it could add value in that step, he said.<\/p>\n

Who\u2019s interested in what Tharaa has to offer?<\/strong> Soliman told Bloomberg<\/a> that he is focused on drumming up partnerships in the Gulf, noting that he has also been meeting investors from Egypt, Asia, and the West over the past 5-6 weeks. Most investors have expressed interest in fixed-income trades and are looking to pile into the equity or corporate debt markets. Saudi Arabia and Kuwait have \u201can appetite to invest in Egypt,\u201d he said. Tharaa has already received seven offers<\/a> from investors for potential partnerships in healthcare, pharma, and agricultural manufacturing ventures and is stillin talks with Oman<\/a> for cooperation, which Soliman expects to be completed by the end of this year, having already sealed a USD 20 bn investment platform<\/a> with Abu Dhabi Holding Company.<\/p>\n

The Electricity Ministry may exchange a combined-cycle power plant for a stake in Tharaa:<\/strong> The Electricity Ministry is looking into buying into Egypt\u2019s Tharaa through an in-kind contribution worth the value of one of the Siemens \/ Orascom Construction \/ Elsewedy Electric combined-cycle power plants, after the ownership is transferred to the fund directly or one of its sub-funds, Planning Minister Hala El Said told Al Mal<\/a>.<\/p>\n

Tharaa is also cooperating with the Endowment Ministry and Internal Trade Development Authority<\/strong> (ITDA) to tap unexploited assets, ITDA head Ibrahim Ashmawy told the local press<\/a>. The Supply Ministry, meanwhile, has identified 6 mn sqm of unexploited assets in 27 governorates owned directly by the ministry or through its affiliated bodies.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tharaa wants to engage with \u2014 not crowd out \u2014 the private sector -Soliman. The CEO of Egypt\u2019s sovereign wealth fund, Tharaa, denied wanting to crowd out the private sector, telling Bloomberg that the fund wants to attract fresh capital to the market by engaging with private firms (watch, runtime: 6:04). Ayman Soliman told the […]<\/p>\n","protected":false},"author":1,"featured_media":593228,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[102,7106,244,93,72,103,363,151,484,370,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-593227","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-capital-markets","tag-debt","tag-electricity","tag-energy","tag-enterpriseam","tag-fdi","tag-orascom-construction","tag-renewables","tag-siemens","tag-sovereign-fund-of-egypt","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"46ef69e5-98b4-4f2e-9217-0c04f5ecbb25","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/3\/208.jpg","photo_position":"above","related_issue":[593222],"teaser":"","voice_url":""},"yoast_head":"\nTharaa will not crowd out private sector -Soliman. - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/11\/21\/tharaa-will-not-crowd-out-private-sector-soliman\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tharaa will not crowd out private sector -Soliman.\" \/>\n<meta property=\"og:description\" content=\"Tharaa wants to engage with \u2014 not crowd out \u2014 the private sector -Soliman. The CEO of Egypt\u2019s sovereign wealth fund, Tharaa, denied wanting to crowd out the private sector, telling Bloomberg that the fund wants to attract fresh capital to the market by engaging with private firms (watch, runtime: 6:04). Ayman Soliman told the […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/11\/21\/tharaa-will-not-crowd-out-private-sector-soliman\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-11-21T04:25:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/208.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/11\/21\/tharaa-will-not-crowd-out-private-sector-soliman\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/11\/21\/tharaa-will-not-crowd-out-private-sector-soliman\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Tharaa will not crowd out private sector -Soliman.\",\"datePublished\":\"2019-11-21T04:25:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/11\/21\/tharaa-will-not-crowd-out-private-sector-soliman\/\"},\"wordCount\":483,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/11\/21\/tharaa-will-not-crowd-out-private-sector-soliman\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/208.jpg?fit=%2C&ssl=1\",\"keywords\":[\"capital markets\",\"debt\",\"electricity\",\"energy\",\"EnterpriseAM\",\"FDI\",\"Orascom Construction\",\"renewables\",\"Siemens\",\"Sovereign Fund of Egypt\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/11\/21\/tharaa-will-not-crowd-out-private-sector-soliman\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/11\/21\/tharaa-will-not-crowd-out-private-sector-soliman\/\",\"name\":\"Tharaa will not crowd out private sector -Soliman. - 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exclusive talk with Ayman Soliman, CEO of THARAA \u2014 Egypt\u2019s new sovereign wealth fund: Egypt\u2019s sovereign wealth fund could see its authorized capital increased to EGP 1 tn from a current EGP 200 bn. \u201cWe expect to increase our licensed capital within three years to EGP 1 tn or\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/9\/74.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593417,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/27\/egypts-tharaa-to-tap-financial-advisor-for-combined-cycle-plant-stake-sale-next-week\/","url_meta":{"origin":593227,"position":1},"title":"Egypt\u2019s Tharaa to tap financial advisor for combined cycle plant stake sale next week","author":"enterpriseam admin","date":"27 November 2019","format":false,"excerpt":"Tharaa to tap financial advisor for combined cycle plant stake sale next week: Egyptian sovereign wealth fund Tharaa is set to select a financial advisor next week to assess the offers presented from international investors to acquire a 70% stake in the first of three Siemens \/ Elsewedy Electric \/\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/9\/74.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593183,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/20\/egyptian-sovereign-wealth-fund-tharaa-receives-seven-partnership-offers\/","url_meta":{"origin":593227,"position":2},"title":"Egyptian sovereign wealth fund Tharaa receives seven partnership offers","author":"enterpriseam admin","date":"20 November 2019","format":false,"excerpt":"Tharaa receives seven partnership offers: Egypt's sovereign wealth fund Tharaa received seven offers from investors for potential partnerships in healthcare, pharma, and agricultural manufacturing ventures, CEO Ayman Soliman tells Al Mal. Soliman did not provide details on the names or nationalities of these investors.Separately, the fund boss said that partnership\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593047,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/17\/egypts-tharaa-establishes-a-usd-20-bn-investment-platform-with-abu-dhabi-holding-company\/","url_meta":{"origin":593227,"position":3},"title":"Egypt\u2019s Tharaa establishes a USD 20 bn investment platform with Abu Dhabi Holding Company","author":"enterpriseam admin","date":"17 November 2019","format":false,"excerpt":"Tharaa, Egypt\u2019s sovereign wealth fund, to establish a USD 20 bn investment platform with Abu Dhabi Holding Company: Egypt and the UAE agreed on Thursday to establish a USD 20 bn joint investment fund to invest in a variety of sectors and transaction structures through Abu Dhabi Development Holding Company\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593135,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/19\/egypts-tharaa-mulls-cooperation-with-oman-investment-fund\/","url_meta":{"origin":593227,"position":4},"title":"Egypt's Tharaa mulls cooperation with Oman Investment Fund","author":"enterpriseam admin","date":"19 November 2019","format":false,"excerpt":"Tharaa mulls cooperation with Oman Investment Fund: Egyptian sovereign wealth fund Tharaa is in talks with the Oman Investment Fund to set up a partnership akin to the USD 20 bn investment platform it established with the Abu Dhabi Development Holding Company (ADDH), said Planning Minister Hala El Said, according\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/11\/3022.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592962,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/13\/zarou-is-egypts-top-contender-for-stake-in-siemens-power-plants\/","url_meta":{"origin":593227,"position":5},"title":"Zarou is Egypt\u2019s top contender for stake in Siemens power plants","author":"enterpriseam admin","date":"13 November 2019","format":false,"excerpt":"Zarou is the top contender for stake in Siemens power plants: Blackstone Group\u2019s Zarou is reportedly the frontrunner out of six investors looking to acquire a stake in the Siemens \/ Orascom Construction \/ Elsewedy combined-cycle power plants, unnamed Electricity Ministry sources tell Al Mal. The energy development company has\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/11\/Electricity-power-plant-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/593227","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=593227"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/593227\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/593222"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/593228"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=593227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=593227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=593227"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=593227"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=593227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}