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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

Egypt to create a sovereign fund to manage public business sector

Posted on 05 March 2014

Nine Egyptian public holding companies and their subsidiaries will soon be under an independent sovereign fund. The fund to restructure the public companies will be managed directly by the prime minister’s cabinet, said Hisham Ramez, governor of Egypt’s Central Bank (CEB), following a meeting with newly appointed Prime Minister Ibrahim Mehleb.
Egypt’s public sector was formerly under the investment ministry, which was recently merged with the ministry for foreign trade and industry following last week’s cabinet reshuffle to form a tripartite bureau – Ministry of Investment, Foreign Trade and Industry………………………………………..Full Article: Source


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