Egypt’s Sovereign Wealth Fund (SWF) said on Monday it has rearranged its priorities to include vital sectors, including the healthcare sector, due to the coronavirus pandemic.
In a virtual press conference attended by Ahram Online, the SWF’s Executive Ayman Soliman said the fund has repositioned priorities to include food and pharmaceutical manufacturing, healthcare services and financial services and financial inclusion sectors.
“Investments in financial technology [fintech] is no longer a luxury, especially as some sectors see a recovery due to the pandemic,” he said.
He revealed that talks are ongoing with a number of investors over investment opportunities in the sector, without providing further details.
He said the fund has held talks with African funds in Senegal, Uganda and others to export the "Egyptian experience" on financial technology directly.
Soliman said the fund’s priorities also include investments in manufacturing and infrastructure.
“There are incoming requests to the fund for investments in infrastructure. Our goal is to use capital recycling in the sector,” he said.