An official in the sovereign fund reveals the reasons for investing in the student weapon company

Abdullah El-Abyari, head of the investment sector at the Sovereign Fund of Egypt, said that the fund began investing in the education sector, through partnerships to establish a chain of middle-class schools, and then moved to invest in the Student Weapon Company; To encourage investment in e-learning, to reach a larger segment of students in Egypt.

He added that the Sovereign Fund is keen to establish partnerships with the private sector with minority stakes, to achieve 3 goals: first, encouraging increased investments in Egypt, secondly giving the private sector the opportunity to manage projects, and thirdly introducing and localizing new technology, and expanding new financing tools for small and medium-sized companies.

Al-Ebiari said, in press statements, on the sidelines of the launch of the “Techni 2022” summit, today, Saturday, that the sovereign fund is working to achieve the previous goals by removing obstacles facing the private sector and promoting available investment opportunities, noting that the fund gives priority to companies. Emerging as an integral part of major companies.

Abdullah Al-Ebyari indicated that the Sovereign Fund of Egypt has concluded various partnerships with Arab and foreign investment funds; To facilitate the injection of investments by these funds into Egypt, and to strengthen partnerships to provide the appropriate opportunities for each fund, he added that Arab investment funds pumped investments in emerging and existing companies.

The head of the investment sector in the Sovereign Fund pointed out that the fund studies the investment opportunities available in Egypt, and directs these opportunities to the fund that is interested in them, provided that they are announced after the signing, noting that the Sovereign Fund was keen to participate in a technical summit to identify the obstacles facing emerging companies. And the search for funding from sovereign funds that are interested in these sectors.

The activities of the “Techni 2022” summit for entrepreneurship kicked off today, Saturday, and will continue until November 8, at the Bibliotheca Alexandrina, under the auspices of the Ministry of Communications and Information Technology, the Information Technology Industry Development Agency (ITIDA) and the General Division for Digital Economy and Technology of the General Federation of Chambers of Commerce.

The summit attracts more than 21,000 participants, more than 800 startups, 180 investors and 300 speakers from 70 countries around the world, as well as making the conference activities available online.

It is noteworthy that a consortium comprising Egypt’s Sovereign Fund and the Egypt Education Platform acquired a majority stake in “Silah Al-Taleb”, the developer of basic education content.

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