Cairo: Prime Minister Mostafa Madbouly chaired a significant meeting of the general assembly of Egypt's Sovereign Fund at the government headquarters in the New Administrative Capital. The meeting, held on Thursday evening, resulted in the approval of the fund's budget, financial statements, and a new dividend distribution policy for state-owned companies transferred to the sovereign fund, including the Misr Insurance Holding Company.
According to State Information Service Egypt, the approved policy mandates that 50% of the profits from these transferred companies be distributed to the state treasury. During the meeting, Investment and Foreign Trade Minister Hassan El-Khatib provided an update on the Sovereign Fund of Egypt's assets, which encompass a diverse range of investments in collaboration with the private sector. These investments span several critical sectors such as utilities and infrastructure, financial services, digital transformation, tourism, real estate investment and heritage development, healthcare and pharmaceuticals, education, and industry.
Minister Khatib also highlighted the fund's real estate assets, including the former government ministries district in downtown Cairo and the land of the dissolved National Democratic Party headquarters. Reviewing the fund's performance, he shared that the asset portfolio has seen a growth of over 90% between 2023 and 2025. The fund's administration and operations are structured to ensure efficient management and a focus on maximizing long-term returns and value creation across its diverse portfolio.
The strategy outlined by Khatib emphasizes the optimal use of cash liquidity and maximizing asset returns to achieve sustainable growth. Looking forward, the fund intends to concentrate on strategic sectors that align with Egypt's development priorities, such as agriculture, food security, industry, education, and tourism. These sectors are integral to fostering sustainable economic growth and attracting both domestic and foreign investments.
The meeting was attended by prominent figures including former deputy prime minister Ziad Bahaa El-Din, Planning and Economic Development Minister Rania Al-Mashat, former industry minister Tarek Kabil, Suez Canal Economic Zone Chairman Walid Gamal El-Din, along with several independent members of the fund's general assembly and board, senior government officials, and representatives of the fund's executive management. Finance Minister Ahmed Kouchouk participated via video conference.