EIDI, the Egyptian National Industry Development Initiative, recently announced that it is launching the nation’s first-ever specialized industrial investment fund: the ‘Nile Industrial Investment Fund’.
The main objective of this fund is clear: to reduce the import bill and stimulate exports, thus helping to strengthen the country’s economy.
With an initial valuation of 2.5 billion Egyptian pounds upon its IPO, the fund will be open for trading on the Egyptian Stock Exchange for an initial duration of five to seven years.
To manage this fund, EIDI has established a strong partnership with Cairo Capital for Financial Investments.
Since its launch in October 2022, EIDI has studied 84 industrial investment opportunities. It has successfully completed 23 existing projects in the first phase, representing an investment of approximately 62.5 billion Egyptian pounds (approximately $1.3 billion). This amount represents 28% of total industrial investments made over the last three years.
Work continues to finalize the technical and financial studies of 24 projects in the second phase, in addition to the study of 37 future opportunities in various sectors.
EIDI’s ongoing effort is a continuation of the wide-ranging structural and legislative reforms implemented by the Egyptian state over the past decade.
The fund focuses on infrastructure projects, port development and other competitive advantages to achieve accelerated and sustainable growth rates, with a view to achieving Egypt’s Vision 2030.
This new Nile Industrial Investment Fund embodies a significant milestone in Egypt’s economic development, providing new investment and growth prospects for the country’s industrial sector.