Tawasul
Mubasher TV
Contact Us Advertising   العربية

FRA approves establishing first SME-focused private equity firm

FRA approves establishing first SME-focused private equity firm
The new company has an initial capital of EGP 10 million.

Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved the establishment of the first private equity company focused on investing in small- and medium-sized enterprises (SMEs), an official source told the Middle East News Agency (MENA)

The new company, Pyramid Private Equity Co, will be established with an initial capital of EGP 10 million, the source added.

The company, owned by Delta Inspire and 138 Pyramids, aims to record revenues of more than EGP 1 billion.

The board of directors includes Ahmed Darwish, former Minister of State for Administration Development and former Chairman of the Suez Canal Economic Zone (SCZone); Nevine El-Tahri, Board Member of the Sovereign Fund of Egypt; Khalil El-Bawab, Managing Director of Misr Financial Investments; and Randa Abdo, Founder of Marketing Mix.