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FINANCIAL NEWS
US EAEF to boost its Egyptian investment to USD1b
13 Nov 2015
(MENAFN) The Egyptian-American Enterprise Fund (EAEF) plans to grow its investments in the Egyptian market to USD1bn, based on recent reports.
The fund has already taken on the action by buying a 20 percent stake of Fawry for e-payments, not to mention another huge purchase at USD65 million.
In more detail, The EAEF is funded by the US, and follows the investment fund projects developed in Eastern and Central Europe during the 1990s.
“The fund aims to support financial inclusion as well as increasing foreign and local investment in Egypt, supporting long-term economic growth,” said a fund’s board member.
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