Egypt Today: Kuwait is in talks to convert its $4 billion worth of deposits at the Central Bank of Egypt (CBE) into direct investments across multiple sectors, according to sources cited by Bloomberg.
The Gulf state is keen to fast-track its investment plans, aiming to deploy at least $2 billion before the end of 2025. However, Bloomberg notes that a final decision on the exact timeline has yet to be made.
This move aligns with earlier reports from Al Mal in October, which indicated that the Kuwait Investment Authority (KIA) — the country’s sovereign wealth fund — was exploring options to channel its CBE deposits into stakes in Egypt’s public and private sector companies.
Additionally, sources told Bloomberg that Ekuity Holding, which oversees KIA’s investments in Egypt, is preparing to inject more capital into the Egyptian market beyond the initial $4 billion.
Momentum is building: at the recent Kuwaiti-Egyptian Cooperation Council and Investment and Business Forum, held last Wednesday, 52 new investment opportunities were presented to Kuwaiti investors. According to Al Arabiya, these included prospects linked to Egypt’s privatization program and projects across the automotive, chemical, and textile sectors.
Egypt’s Presidency reported that the Kuwaiti delegation showed strong enthusiasm for expanding their investments in Egypt and confirmed their active participation in the upcoming Egypt-Gulf Investment Forum in Cairo later this year.
Mohammed Al Saqr, head of the Kuwaiti side of the Cooperation Council, emphasized that Kuwaiti private investors are particularly attracted to Egypt’s real estate, tourism, pharmaceutical, and automotive sectors due to their promising growth potential.
Beyond traditional sectors, Kuwait is also considering participating in Egypt’s airport privatization initiative, which will offer stakes in 11 airports to the private sector.
Earlier this month, President Abdel Fattah El Sisi visited Kuwait to strengthen economic ties, aiming to secure up to $4 billion in fresh Kuwaiti investments during 2025.
If finalized, this strategic shift would provide a major boost for Egypt — clearing $4 billion in financial liabilities, enhancing investor confidence, attracting additional foreign capital, and reinforcing the country’s foreign currency reserves.
https://www.egypttoday.com/Article/3/139810/Kuwait-Eyes-Transforming-4-Billion-in-Egyptian-Deposits-into-Strategic
