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Kuwait finalises investment arm in Egypt – Daily News Egypt.

  /   April 18, 2015

Holding company, announced in 2011 by Kuwait Investment Authority, hired Arab African International Bank as adviser

Kuwait has completed the lengthy establishment of a company through which the state’s future investments in Egypt will be carried out, a source familiar with the Gulf state’s Egypt investments said.

“The general assembly of the holding company, with a capital of EGP 1bn, was finalised last week during a visit by Kuwaiti officials to Egypt,” the source told the Daily News Egypt, asking not to be named. The company’s capital will be paid before the end of April, the source said.

The Kuwait Investment Authority, the Gulf state’s sovereign fund, had announced in April 2011 the establishment of a company with a capital of EGP 1bn to serve as its “investment arm” in Egypt, which had only just begun a period of political transition that continues till today.