TSFE eyes establishing global entities with Saudi PIF

The CEO of the Sovereign Fund of Egypt (TSFE), Ayman Soliman, said that cooperation with the Saudi Public Investment Fund (PIF) aims to establish joint entities that can reach the region and the world.

Soliman added, in a TV interview with Alarabiya that Siemens stations and the National Petroleum Company are one of the options for investment offered to be discussed with the PIF.

He pointed out that TSFE aims to invest in the financial technology and financial inclusion sectors in the Kingdom.

“The cooperation aims to create bridges between Egypt’s sovereign fund and the Saudi Public Investment Fund. Financial technology services and some successful companies in the Egyptian and Saudi market are targeted for investment, and this cooperation aims to create entities that reach global markets,” he added.

Soliman also said that the agreement with the Saudi Fund includes searching for certain sectors in which the two sides’ visions met to establish successful regional, Arab and global entities, such as, infrastructure, food and pharmaceutical industries, green economy, education and health care.