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The Sovereign Fund of Egypt information


The Sovereign Fund of Egypt
صندوق مصر السيادي
Company typeSovereign wealth fund
IndustryInvestment
Founded2018; 6 years ago (2018)
Headquarters
Cairo
,
Egypt
Key people
Ayman Soliman (CEO)[1]
Hala el-Said (chairman)[2]
Total assets12 billion $[3]
OwnerEgypt
Websitetsfe.com

The Sovereign Fund of Egypt (Arabic: صندوق مصر السيادي) is a Sovereign wealth fund, owned by the Arab Republic of Egypt,[4] Its established in 2018 by Law No. 177 of 2018 and amended by Law No. 177 of 2020,[5] with the aim of contributing to the financial economic development of Egypt through the management of funds and assets owned or transferred to it, as well as investing in many different economic activities.

The Fund's Board of Directors consists of a non-executive chairman who is the Minister of Planning and Economic Development, the membership of the executive director of the Fund, and representatives from the Ministry of Planning, Ministry of Finance, the Central Bank of Egypt, and the General Authority for Investment and Free Zones, in addition to seven independent members with experience.[6]

The Sovereign Fund of Egypt includes four affiliated subfunds operating in many fields, In 2020, The Sovereign Fund of Egypt ranked 43rd among 93 sovereign wealth funds globally in terms of asset size in a set of rankings created by the Sovereign Wealth Fund Institute,[7][8] The capital of the fund is about 11.2 billion US dollars.[9]

  1. ^ "Egyptian Sovereign Fund chief receives bt100 award". Egypt today. 3 March 2020. Retrieved 6 September 2022.
  2. ^ "Al-Sisi directs strengthening Egypt's sovereign fund role to attract investments". Dailynewsegypt (in Arabic). 6 September 2022. Retrieved 6 September 2022.
  3. ^ "السيادي المصري يتجه إلى رفع رأسماله إلى 64 مليار دولار". اندبندنت عربية. 9 July 2021. Retrieved 6 September 2022.
  4. ^ "Egypt's sovereign fund aims to increase investment portfolio to LE 22-23B". Egypt today. 6 December 2021. Retrieved 6 September 2022.
  5. ^ "The Egypt Fund Becomes an Associate Member of IFSWF". IFSWF. Retrieved 6 September 2022.
  6. ^ ""مهامه.. مشروعاته.. مجلس إدارته.. رأسماله".. كل ما تريد معرفته عن صندوق مصر السيادي". الأهرام (in Arabic). 20 October 2020. Retrieved 6 September 2022.
  7. ^ "Egypt's TSFE attracts $3.3 billion in investments from Arab sovereign funds in 2022". Ahram. 24 August 2022. Retrieved 6 September 2022.
  8. ^ "Egypt targets adding LE50-60B of exploited assets at disposal of Sovereign Fund". Egypt today. 8 June 2020. Retrieved 6 September 2022.
  9. ^ "Sisi ratifies 'Egypt Fund' for mega national projects". Egypttoday. 19 August 2018. Retrieved 6 September 2022.

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