Egypt-Kuwait Holding announces $500m investment over next five years
Egypt-based investment company, Egypt Kuwait Holding Co SAE (EKH), will invest $500 million over the coming five years, CEO Sherif El-Zayat has revealed.
El-Zayat said the company will invest $100 million a year and has made available $100 million to seize any acquisition opportunities during the upcoming period. In this vein, the firm already decided to increase its stake in Alexandria Fertilizer Company (ALEXFERT) to 55% from 45% with $60 million, reports say.
The company also early this week reportedly applied for a license to set up a microfinancing entity under the name of Bedayti.
EKH reported a net profit of $109.29 million in the first half of 2021, up from $80.24 million in the same period the previous year, Arabian Finance reports.
The Company has investments in 20 companies across five countries, including Egypt, Kuwait, South Sudan and Syria, and has a diversified portfolio of investments in several sectors such as fertilizers and petrochemicals, energy, insurance, manufacturing, information technology, transport and infrastructure.