Cairo – Mubasher: Egypt has increased the authorised capital of the Sovereign Fund of Egypt (TSFE) to EGP 400 billion from EGP 200 billion, Ahram Gate reported citing Egypt's Minister of Planning, Hala El-said.
The authorised capital of the wealth fund is targeted to reach EGP 1 trillion within a maximum period of five years.
The Egyptian minister’s remarks were made during her participation in the celebrations of the 50th anniversary of the establishment of Egyptian-Emirati ties.
She further noted that some investments have been already injected into the sectors of agricultural manufacturing, financial services, and digital services, among others.
Noteworthy to mention, El-said is the Chairperson of Egypt’s sovereign fund.
