The Clap
Qatar’s sovereign wealth fund deposited $1 billion in the Central Bank of Egypt, hinting that it’s close to acquiring stakes in state-owned companies.
Backstory
The Qatar Investment Authority has recently been making headlines in Egypt regarding possible investments.
So what
It’s not just the QIA, but several GCC countries’ sovereign wealth funds have shown interest in Egyptian companies, & this was most evident when Saudi’s Public Investment Fund acquired stakes in 4 EGX-listed companies.
Now what
The QIA was recently rumored to be interested in acquiring a 20% stake in Vodafone Egypt from Telecom Egypt (ETEL).
