Dr. Ashraf El Sharkawy, chairman of Egyptian Financial Supervisory Authority (EFSA), said the authority has approved a Private Placement Memorandum (PPM) for Bedaya (the Beginning) Fund I with a total volume of EGP 250 million. Bedaya is a close-ended fund aims to contribute to the small and medium enterprises (SMEs)’ capitals.
The Fund will invest in the SMEs as well as the newly-established firms for developing purposes. Bedaya Fund I targets financing those firms with capital volumes necessary for making expansions, boosting efficiency as well as production capacity, and also upgrading services and products.
Bedaya’s investments shall be direct for medium and long run in the SMEs’ capitals. It shall be through SMEs’ capital increase, stocks buying, or even through the inception of the firm (Egypt-based only).
Bedaya Fund I’s investment policy is represented as investing in 4 major sectors; agriculture, IT, industry, and services.
