The Sovereign Fund of Egypt explained

The Sovereign Fund of Egypt
Type:	Sovereign wealth fund
Industry:	Investment
Location City:	Cairo
Location Country:	Egypt
Key People:	Ayman Soliman (CEO)^[1] Hala el-Said (chairman)^[2]
Assets:	12 billion $^[3]
Owner:	Egypt

The Sovereign Fund of Egypt (Arabic: links=no|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]

Sub-funds

The Sovereign Fund of Egypt is included on four affiliated sub-funds:^[10]

• TSFE Tourism, Real estate & Antiquities sub-fund.
• TSFE Healthcare & Pharma sub-fund.
• TSFE Infrastructure & Utilities sub-fund.
• TSFE Financial Services & Fintech sub-fund.

Investments

• The fund participates in green hydrogen projects inside Egypt.^[11]
• It has owned The Mogamma,^[12] the land of the former National Party, the Global Village, the land of the Ministry of Interior in Cairo.
• It has owned a part of the three power stations in Egypt created by Siemens (Borollos, New Administrative Capital, and Beni Suef).^[13]
• It has owned 100% in Misr Insurance Holding Company.^[14]

See also

• Economy of Egypt.
• List of countries by sovereign wealth funds.

Notes and References

1. Web site: Egyptian Sovereign Fund chief receives bt100 award. Egypt today. 3 March 2020. 6 September 2022. English.
2. Web site: Al-Sisi directs strengthening Egypt's sovereign fund role to attract investments. Dailynewsegypt. 6 September 2022. 6 September 2022. Arabic.
3. Web site: السيادي المصري يتجه إلى رفع رأسماله إلى 64 مليار دولار. اندبندنت عربية. 9 July 2021. 6 September 2022. English.
4. Web site: Egypt's sovereign fund aims to increase investment portfolio to LE 22-23B. Egypt today. 6 December 2021. 6 September 2022. English.
5. Web site: The Egypt Fund Becomes an Associate Member of IFSWF. IFSWF. 6 September 2022. English.
6. Web site: "مهامه.. مشروعاته.. مجلس إدارته.. رأسماله".. كل ما تريد معرفته عن صندوق مصر السيادي. الأهرام. 20 October 2020. 6 September 2022. Arabic.
7. Web site: Egypt's TSFE attracts $3.3 billion in investments from Arab sovereign funds in 2022. Ahram. 24 August 2022. 6 September 2022. English.
8. Web site: Egypt targets adding LE50-60B of exploited assets at disposal of Sovereign Fund. Egypt today. 8 June 2020. 6 September 2022. English.
9. Web site: Sisi ratifies 'Egypt Fund' for mega national projects. Egypttoday. 19 August 2018. 6 September 2022. English.
10. Web site: Sub-funds. The Sovereign Fund of Egypt. 6 September 2022. English.
11. Web site: Egypt signs MoUs with UK-based companies to support green hydrogen development. Ahram. 29 August 2022. 6 September 2022. English.
12. Web site: Iconic El-Tahrir Complex building to be turned into unique hotel. Ahram. 10 August 2022. 6 September 2022. English.
13. Web site: Egypt to offer foreign investors a large share in power plants. al-monitor. 25 November 2019. 6 September 2022. English.
14. Web site: Misr insurance company ownership transferred to Egypt’s sovereign fund. Ahram online. 14 March 2023. 8 May 2023. English.