The Egyptian Businessmen’s Association (EBA) recently established the Egyptian-African Company for Investment and Development, which aims to support private-sector investment projects in the countries of the Nile Basin.
According to EBA President Hussein Sabbour, the company’s total capital currently stands at LE100 million, of which paid-in capital accounts for some LE20million.
Sabbour went on to explain that 21 percent of the new company’s capital originated from firms working in the agricultural sector; 16 percent from the information technology sector; 15 percent from the construction sector; and the remainder from the transport, banking, energy and tourism sectors.
Company shareholders commissioner Mustafa el-Ahwal announced that the new enterprise would immediately begin undertaking projects in various fields as soon as its board was appointed.
"Priority will go to agricultural and animal wealth projects," he said. "But we also plan to provide logistical services for investment in other fields, such as trade, energy and tourism."
Translated from the Arabic Edition.
