ADQ, an Abu Dhabi-based investment and holding company, has undertaken several transactions in publicly listed companies within key sectors of Egypt’s economy, building on its long-term commitment to investing in the country’s economic growth through its USD 20 billion joint strategic investment platform.
The investments reflect ADQ’s continued confidence in Egypt’s strong economic potential. The transactions include stakes in Commercial International Bank (CIB), one of Egypt’s largest banks; Fawry, the leading digital transformation and e-payments platform; Alexandria Container & Cargo Handling Company, a prominent logistics player; Misr Fertilizers Production Company (MOPCO) and Abu Qir Fertilizers & Chemical Industries, two key industrial companies in Egypt.
The Egyptian economy has proven to be resilient over the past several years. Real GDP growth continues to outpace the majority of emerging market economies with current year projections estimated to reach 5.5%. With its strategic location and the large size of its domestic market, the investments were driven by taking into account the underpinnings of Egypt’s strong domestic consumption, productivity growth, enormous untapped export potential, and positive trade outlook.