TSFE Financial Services & Fintech Subfund

Overview

The TSFE Financial Services & Fintech Subfund is a sovereign wealth fund established by the Sovereign Fund of Egypt (TSFE) in August 2020. Its primary focus is on investing in Egypt's financial services and digital transformation sectors, aiming to enhance the country's banking assets and create complementary non-banking products. The fund's vision is to drive substantial change and create immense economic value by supporting Egypt's transformation into a digital economy and accelerating financial inclusion and MSME growth. It also seeks to be the partner of choice for regionalizing banking and non-banking financial services products. The subfund targets investments in financial technology, financial and investment inclusion, banking and non-banking financial services, and digital transformation. It operates with an authorized capital of EGP 30 billion and an issued capital of EGP 500 million, as per the decree issued by Egypt's Minister of Planning and Economic Development, Hala El-Said. The fund has the ability to establish companies or funds, borrow, obtain credit facilities, issue bonds, and engage in various investment activities to achieve its objectives. The fund's board of directors includes prominent figures such as Mr. Sherif Wahba, Chairperson, who is the co-founder and Managing Partner of MPW Capital Advisors, and Mr. Mohamed Barakat, an Independent Board Member. The subfund is managed by a team led by Acting Subfund CEO Mr. Ayman Soliman. The fund's establishment aligns with Egypt's Vision 2030, focusing on comprehensive and sustainable development, and aims to contribute to the country's economic growth through strategic investments in key sectors.

Investment Focus

• Investments in financial technology, financial and investment inclusion, banking and non-banking financial services, and digital transformation.