The FRA agreed to provide more financing methods for companies by allowing the establishment & licensing of “special purpose acquisition companies”, also known as SPAC.
Who is affected🤷 The decision provides more financing solutions to investors as well as small & mid-sized enterprises in order to support Egypt’s Vision 2030, which seeks to empower the private sector & facilitate its expansion. By establishing a company for the sole purpose of acquiring or merging with target companies, investors & businesses will have access to an additional source of financing.
Why is this important🤔 The initiative will provide opportunities for growing & promising companies, especially in the field of technology & digital transformation, as well as investors, to achieve their investment goals.
