UAE firm buys stakes in Egypt’s companies
CAIRO: The Arabian Gulf Investments Company announced the acquisition of stakes in three strategic companies in Egypt.
The acquisition was announced at a signing ceremony organised in Cairo in the presence of Khalifa Saif Al Muhairbi, Chairman of the Board of Directors of the Arabian Gulf Investments Company, and Engineer Abdeen Ibrahim Arida, Chairman of the Board of Directors of Easy Cash for electronic payment, Chairman of the Board of Directors of Health Technology for Advanced Technology and Public Health, and Chairman of the Board of Directors of the Egyptian Company for Embedded
Systems and Industry, along with a number of dignitaries, officials and media representatives.
The Arabian Gulf Investments Company has acquired stakes in the Egyptian Company for Embedded Systems and Industry, which are factories for strategic medical supplies, led by the production of self-destructed syringes for the first time in Egypt and Africa, and the volume of demand in Egypt only reaches 2 billion injections annually.
A stake was acquired in Easycash for electronic payment, which is the first company specialised in electronic porfolios licensed by the Central Bank of Egypt.
A stake was also acquired in Health Technology for Advanced Technology and Public Health, a company that owns a factory with a global brand leading in the world of manufacturing medical supplies and has contracts in Egypt, the Gulf Cooperation Council and some African countries.
Khalifa Saif Al Muhairbi, Chairman of the Board of Directors of the Arabian Gulf Investments Company, said on this occasion: “We are pleased to acquire stakes in important and pioneering Egyptian companies, as this step comes within the company’s strategy to expand investment in the Egyptian market in light of the encouraging investment environment provided by the Arab Republic of Egypt, where It pays great atention to industry and digital transformation, and we hope that in the coming period we will continue to strengthen our presence in a number of important investment sectors.”