Dr. Mohamed Fared, MIFT Minister, meets with leaders of the Institute of International Finance to deepen cooperation and increase investments from U.S. institutions.
MIFT Minister reviews key features of the government’s strategy through the Sovereign Fund of Egypt and its affiliated companies to expand investment across African markets.
Dr. Mohamed Fared Saleh stated that:
- Egypt is moving rapidly to build partnerships and strengthen international investor confidence in priority sectors with strong developmental returns.
- Ongoing coordination and consultation with the Institute of International Finance regarding technical advisory services and capacity development to design policies that reflect investors’ needs and enhance the access of Egyptian exports to markets
- The Africa Investment Fund, in partnership with the private sector, prioritizes five key sectors: financial services, healthcare, education, agriculture, and tourism.
- We look forward to reactivating cooperation mechanisms between the Institute and MIFT affiliated companies, particularly the Misr Insurance Holding Company, under the umbrella of the Sovereign Fund of Egypt.
Tim Adams, CEO of the Institute of International Finance, stated that:
- Egypt has achieved remarkable progress in non-banking financial services and markets, and we are ready to further develop cooperation mechanisms.
- We will work on consultations to coordinate policies and efforts that support Egypt’s interests and enhance our engagement in Egypt.
- We welcome participation in supporting MIFT’s efforts through the Sovereign Fund to expand strategically in Africa in a way that serves Egypt’s development interests.
As part of a series of meetings and consultations conducted by Dr. Mohamed Fared Saleh, the Minister of Investment and Free Zones (MIFT Minister) in Washington, MIFT Minister held a meeting with Tim Adams, CEO of the Institute of International Finance (IIF), to discuss ways to enhance joint cooperation, review Egypt’s vision for investment expansion in Africa, and examine current economic and geopolitical developments.
During the meeting, MIFT Minister presented the features of the State’s strategy through the Sovereign Fund of Egypt, in cooperation with its affiliated companies—most notably Misr Insurance Holding Company —to support investment expansion in African markets, particularly in priority development sectors.
MIFT Minister emphasized that Egypt’s current approach focuses on investment in five strategic sectors: financial services, healthcare, education, agriculture, and tourism. The aim is to build sustainable partnerships based on transferring Egyptian expertise and localizing financial and development services across African markets.
Dr. Fared noted that expansion plans in Africa target specific markets based on a sector-focused approach. This includes the Nigerian market in the field of Takaful insurance, leveraging the strong growth of Islamic finance and Egypt’s institutional expertise in this field.
Moreover, He highlighted the Kenyan market as a target, particularly in non-banking financial services, including microfinance, financial leasing, and innovative financial services.
Both sides praised the longstanding relationship between Egyptian financial institutions and IIF. Tim Adams expressed appreciation for the notable development in Egypt’s banking and investment sector, praising the pivotal role of the Central Bank of Egypt in achieving monetary stability, which reflects strong confidence in Egypt’s economic policies.
Furthermore, MIFT Minister called on IIF to provide technical support, as well as specialized data and market analysis, which are essential tools for investment planning, especially given Egypt’s focus on expanding into African markets.
In this context, Dr. Farid expressed his aspiration to reactivate cooperation mechanisms with MIFT’s affiliated companies, particularly the Misr Insurance Holding Company, under the umbrella of the Sovereign Fund of Egypt, to enhance institutional integration in implementing the external expansion strategy.
MIFT Minister also invited the leadership of IIF to visit Egypt at the earliest opportunity and to organize joint events and promotional roadshows in cooperation with the Sovereign Fund of Egypt, to highlight investment opportunities available to the international investment community.
Tim Adams welcomed the invitation, affirming IIF’s commitment to strengthening its presence in Egypt and participating in upcoming major economic events, as well as supporting efforts to expand regional cooperation in Africa.
MIFT Minister concluded the meeting by reaffirming that Egypt is steadily advancing its policies of economic openness and attracting foreign direct investment, with a focus on high-value-added sectors, reinforcing its role as a principal gateway for investment into the African continent.
