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Gulf Capital based in the UAE, is speeding up its investments in Egypt and Africa

Gulf Capital, an Abu Dhabi-based investment business, has announced the launch of an office in Cairo to tap into further investment opportunities in Egypt's and Africa's fast-growing markets.

To supplement Gulf Capital's existing portfolio of varied firms, the firm has formed a new team to look into opportunities in the Egyptian economy's technology, healthcare, business services, consumer, and sustainability sectors.

"Egypt continues to be an attractive and fast-growing market, as well as a major investment destination for our firm and our worldwide investors," said Dr. Karim El Solh, co-founder and CEO of Gulf Capital. About the previous decade, Gulf Capital has invested over EGP5 billion ($300 million) in Egypt, primarily in technology, infrastructure, manufacturing, petrochemicals, healthcare, healthtech, business services, and oil and gas services.

We will be able to increase our investment pace in Egypt in potential sectors such as the digital economy and healthcare by opening a local office and employing a senior Egyptian investment team, as well as stay closer to our existing portfolio firms and business partners. As Egypt emerges as a rising star in the global technology landscape, we are particularly enthused about prospective investments in the fast-growing technology, finance, ecommerce, and healthtech sectors.

Egypt was recently one of Africa's most strong and active players in the digital ecosystems, with Egyptian businesses receiving 28.3% of all startup funding on the continent."

According to the most recent assessment from the International Monetary Fund (IMF), Egypt's economy will overtake that of the United Arab Emirates to become the second largest Arab and African economy by 2022. According to the research, the IMF expects total revenues as a proportion of GDP to reach a new high of 18.6% in 2021-2022.

Over the next five years, the IMF forecasts a healthy average annual growth rate of 5.6 percent for Egypt's economy, the best in the country's economic history over the last 25 years. An surge in Suez Canal operations, tourism, exports, foreign investments, and remittances boosted the country's net international reserves to a record $41 billion.

"Our long-term commitment to Egypt and the larger Middle Eastern and African regions remains rock-solid," Dr. El Solh concluded. The new office in Egypt follows the establishment of our Singapore office in December, allowing Gulf Capital to invest in growth areas spanning North Africa to Southeast Asia."

Geidea, a fintech payment solutions provider, and Vezeeta, a healthtech business formed by Egyptian entrepreneurs with operations in Dubai, Riyadh, and Cairo, were Gulf Capital's most recent investments.

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Posted on :4/19/2022