{"id":605463,"date":"2023-08-31T00:00:00","date_gmt":"2023-08-31T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/31\/sovereign-fund-of-egypts-authorized-capital-doubles-to-egp-400-bn-plus-news-from-sodic-avanz-capital\/"},"modified":"2023-08-31T00:00:00","modified_gmt":"2023-08-31T00:00:00","slug":"sovereign-fund-of-egypts-authorized-capital-doubles-to-egp-400-bn-plus-news-from-sodic-avanz-capital","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/31\/sovereign-fund-of-egypts-authorized-capital-doubles-to-egp-400-bn-plus-news-from-sodic-avanz-capital\/","title":{"rendered":"Sovereign Fund of Egypt\u2019s authorized capital doubles to EGP 400 bn. PLUS: News from Sodic, Avanz Capital."},"content":{"rendered":"

INVESTMENT- <\/strong><\/p>\n

#1- The SFE just doubled its authorized capital: <\/strong> Prime Minister Mousafa Madbouly has issued a decision to double the Sovereign Fund of Egypt\u2019s authorized capital to EGP 400 bn, according to a decision published in the Official Gazette on Tuesday. <\/p>\n

EGP 400 bn today. EGP 1 tn in 2025? <\/strong> SFE chair Hala El Said sa<\/a> id in November<\/a> that the fund\u2019s authorized capital will increase to EGP 1 tn within three years.<\/p>\n

Remember: <\/strong> The SFE has almost USD 12 bn in assets, making it the forty-seventh largest sovereign fund in the world, according to the SWF Institute<\/a>.<\/p>\n

#2- MSME x Avanz <\/strong> Capital <\/strong> : <\/strong>Avanz Capital and the MSME Development Agency have signed an MoU aimed at increasing private investment and boosting innovation, according to a statement (pdf)<\/a> out yesterday. Under the agreement, the two sides will exchange information and expertise related to investment funds and develop a training program for investors and fund managers.<\/p>\n

HOSPITALITY <\/strong> - <\/strong><\/p>\n

Sodic x Robert De Niro: <\/strong> Our friends at Sodic have partnered with the global luxury brand Nobu Hospitality<\/a> to launch two luxury hotels, a residential project and restaurant in two locations in Egypt, the real estate developer said in a press release (<\/a> pdf<\/a> )<\/a> yesterday. One of the hotels and the residential area will be based in the company\u2019s New Zayed project, while the second hotel will be located in the Ras El Hikma area on the North Coast. Information about the size of investment and time frame for the two projects wasn\u2019t made public.<\/p>\n

Nobu: <\/strong> A luxury hotel and restaurant company founded in the 1990s by celebrity chef Nobuyuki Matsuhisa and Robert De Niro.<\/p>\n

COMMODITIES- <\/strong><\/p>\n

Romanian + French wheat incoming: <\/strong> GASC has purchased a total of 240k metric tons of wheat sourced evenly from French and Romanian suppliers in an international tender, Reuters<\/a> reports, citing a statement from the state grains buyer. This is the second<\/a> time in a week that GASC has bought Romanian wheat. <\/p>\n","protected":false},"excerpt":{"rendered":"

SFE chair Hala El Said said recently that the fund\u2019s authorized capital will reach EGP 1 tn within three years<\/p>\n","protected":false},"author":1,"featured_media":605464,"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":[7209],"tags":[111,317,72,550,955,8823,83,991,312,370,238,207],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-605463","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-commodities","tag-enterpriseam","tag-gasc","tag-hospitality","tag-nobu-hospitality","tag-real-estate","tag-sme-development-authority","tag-sodic","tag-sovereign-fund-of-egypt","tag-tourism","tag-transport","wpautop","entry"],"acf":{"mongo_id":"5832c964-371f-4671-a29f-b588979585b9","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/1502.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt sovereign wealth fund authorized capital doubles to EGP 400 bn. 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The Sovereign Fund of Egypt will speak with strategic investors \u201cin a number of cities around the world,\u201d Bloomberg Asharq says, quoting Planning Minister Hala El Said and fund CEO Ayman Soliman. The government had been planning\u2026","rel":"","context":"In "Privatization"","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/348.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592688,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/04\/sovereign-wealth-fund-capital-to-quintuple-to-egp-1-tn\/","url_meta":{"origin":605463,"position":1},"title":"Sovereign wealth fund capital to quintuple to EGP 1 tn","author":"enterpriseam admin","date":"4 November 2019","format":false,"excerpt":"Speaking of the sovereign wealth fund: Egypt\u2019s SWF will see its initial capital rise fivefold to EGP 1 tn from EGP 200 bn after President Abdel Fattah El Sisi directed officials to raise its authorized capital, Planning Minister Hala El Said recently said. Assets are currently being transferred to the\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\/2018\/8\/621.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571848,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/02\/sovereign-fund-of-egypt-enters-swf-global-rankings-at-43\/","url_meta":{"origin":605463,"position":2},"title":"Sovereign Fund of Egypt enters SWF global rankings at #43","author":"enterpriseam admin","date":"2 June 2020","format":false,"excerpt":"Sovereign Fund of Egypt enters SWF global rankings at # 43: The Sovereign Fund of Egypt (SFE) ranks 43rd out of the world's 93 sovereign wealth funds in the Sovereign Wealth Fund Institute\u2019s (SWFI) latest rankings. The fund currently owns assets worth almost USD 12 bn, accounting for 0.14% of\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":571322,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/07\/sfe-concord-sign-agreement-on-usd-300-mn-healthcare-fund\/","url_meta":{"origin":605463,"position":3},"title":"SFE, Concord sign agreement on USD 300 mn healthcare fund","author":"enterpriseam admin","date":"7 May 2020","format":false,"excerpt":"INVESTMENT WATCH- Egypt\u2019s sovereign wealth fund sets up USD 300 mn healthcare fund JV with Concord: The Sovereign Fund of Egypt (SFE) and Concord International Investments, the SEC-regulated firm set up by Mohamed Younes and Prince Abbas Hilmi, have signed an MoU to set up a joint venture to manage\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\/5\/75.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":573919,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/24\/sfe-to-set-up-usd-300-mn-healthcare-fund-jv-with-concord-in-coming-months\/","url_meta":{"origin":605463,"position":4},"title":"SFE to set up USD 300 mn healthcare fund JV with Concord in coming months","author":"enterpriseam admin","date":"24 August 2020","format":false,"excerpt":"INVESTMENT WATCH- SFE to set up USD 300 mn healthcare fund JV with Concord in October: The Sovereign Fund of Egypt (SFE) will complete setting up its USD 300 mn healthcare fund JV with Concord International Investments by October, President of Concord Group Mohamed Younes told the local press. He\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\/8\/179.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":584061,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/26\/b-investments-approves-healthcare-pharma-investment-with-sfe-plus-more-edita-buybacks-3-month-sugar-export-ban-capricorns-egypt-focus\/","url_meta":{"origin":605463,"position":5},"title":"B Investments approves healthcare, pharma investment with SFE. PLUS: More Edita buybacks, 3-month sugar export ban, Capricorn\u2019s Egypt focus","author":"enterpriseam admin","date":"26 March 2023","format":false,"excerpt":"The SFE wants to raise EGP 1.2 bn for the sub-fund","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/430.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\/605463","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=605463"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/605463\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/605440"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/605464"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=605463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=605463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=605463"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=605463"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=605463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}