Kuwait’s sovereign wealth Fund also known as Kuwait Investment Authority (KIA) is planning to makes investment in five companies operating in Egypt, in next coming two years, reports say.
Ahmed El-Khatib, Chief Investment Officer at Ekuity Holding, KIA investment arm in Egypt indicated that the wealth fund eyes minority stakes in four of five companies operating the food and pharmaceutical industries.
El-Khatib did not reveal the value of the potential future investments.
The fund has already invested $2 billion in Egypt and owns shares in Sawari Ventures; leading venture capital in the North African country, through Ekuity Holding.
KIA which also invests at home, boasts assets exceeding $592 billion making the 5th largest wealth fund in the world.
Kuwait Investment Authority mulls plans to invest in five companies in Egypt
