October 18, 2020

KIAngel reveals fund for Nile Basin and COMESA states


ArabFinance: An alliance comprising KIAngel Founder Khaled Ismail and three other investors, two Egyptians and one from Jordan, will launch a new $35 million (EGP 549.51 million) Grow in Africa (GIAF) investment fund, Al Mal News reported on October 14th.

The new fund targets companies from the Nile Basin and the Common Market for Eastern and Southern Africa (COMESA).

The official subscription will take place in March 2021, according to the news portal.

The group is approaching the European Bank for Reconstruction and Development, the International Finance Corporation, the Islamic Development Bank, and local banks to participate in the fund.

GIAF is expected to allocate 80% of its capital to firms targeting expansion in other African countries, while the remaining 20% will be going towards businesses eyeing local growth.

arabfinance


Categories : finance & economy

Finance & Economy

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