Egypt may set up a holding company to invest in Africa

Mohamed Farid Khamis, Head of the Egyptian Federation of Investors Association (EFIA), suggests setting up a holding company to invest in Africa.

“We seek to cooperate with Egyptian leading investors in the continent such as Elsewedy Electric and Qalaa Holdings.” Khamis said on the sidelines of a business conference in Cairo.

The federation is committed to raise around 1 billion Egyptian pounds as an initial capital of the new company, Khamis added.

The Egyptian Federation of Investors Association is a non-governmental and non-profit organization.