The Egyptian Financial Regulatory Authority (FRA) approved the establishment of the first private equity company focused on investing in small- and medium-sized enterprises (SMEs), according to local press
The new company, Pyramid Private Equity Co, will be established with an initial capital of EGP 10 million, the source added.
The company, owned by Delta Inspire and 138 Pyramids, aims to record revenues of more than EGP 1 billion.
The board of directors includes Ahmed Darwish, former Minister of State for Administration Development and former Chairman of the Suez Canal Economic Zone (SCZone); Nevine El-Tahri, Board Member of the Sovereign Fund of Egypt; Khalil El-Bawab, Managing Director of Misr Financial Investments; and Randa Abdo, Founder of Marketing Mix.
