ADQ, an Abu Dhabi-based investment and holding company, has undertaken several transactions in publicly listed companies within key sectors of Egypt’s economy.
These transactions, the company said, are part of its long-term commitment to investing in the country’s economic growth through its $20 billion joint strategic investment platform.
The transactions include stakes in Commercial International Bank (CIB), one of Egypt’s largest banks; Fawry, the leading digital transformation and e-payments platform; Alexandria Container & Cargo Handling Company, a prominent logistics player; Misr Fertilizers Production Company (MOPCO) and Abu Qir Fertilisers & Chemical Industries, two key industrial companies in Egypt.
ADQ said Egyptian economy has proven to be resilient over the past several years. Real GDP growth continues to outpace the majority of emerging market economies with current year projections estimated to reach 5.5 percent.
With its strategic location and the large size of its domestic market, the investments were driven by taking into account the underpinnings of Egypt’s strong domestic consumption, productivity growth, enormous untapped export potential, and positive trade outlook, ADQ said.
Mohamed Hassan Alsuwaidi, Managing Director and Chief Executive Officer of ADQ, commented, “The UAE and Egypt share a deep relationship underpinned by strong economic and trade ties. Since the inception of ADQ’s $20 billion strategic investment platform with the Sovereign Fund of Egypt, we have executed several investment opportunities in Egypt, to deliver robust commercial benefits and sustainable growth.”
ADQ is a long-term investor in the Egyptian economy, with an office in Cairo. Since the platform’s inception, a number of strategic investments and partnerships have been realized, resulting in strong financial returns.