Egypt's Minister of Planning and Economic Development Hala El-Said has issued a decree to establish the Egypt sub-fund for financial services and digital transformation, affiliated to The Sovereign Fund of Egypt (TSFE).
El-Said asserted that the TSFE's philosophy depends on the state's plan to achieve comprehensive and sustainable development under the Egypt Vision 2030.
The minister explained that the sub-fund's purpose is to invest in a range of fields including: non-banking financial services; digital transformation; financial inclusion; and financial technology, including insurance services, insurance brokerage, mortgage finance, commercial factoring, microfinance, portfolio management, and financial investments.
