Kuwait Investment Authority Bullish in Egypt
Posted on 04/11/2011
Kuwait is strengthening its economic position in Egypt. The Kuwait Investment Authority (KIA) is planning to set up a sovereign wealth enterprise to invest US$ 1 billion in Egypt’s stock market. This is a significant symbol of confidence in the Egyptian capital markets after the overthrow of Hosni Mubarak. Kuwait already has skin in Egypt, with value of around US$ 15 billion in investments. Many institutional investors fled the Egyptian capital market when the onset of the revolution began.
Top 5 Constituents of Egypt Case 30 Index
| Company Name | |
|---|---|
| 1 | Orascom Construction Industries |
| 2 | Commercial International Bank (Egypt) |
| 3 | Orascom Telecom Holding S.A.E. |
| 4 | EFG – Hermes Holding SAE |
| 5 | Egypt Kuwait Holding Company (SAE) |
Source: Egypt Case 30 Index
