Through its private equity arm Al Ahly Capital Holding, National Bank of Egypt acquired the healthcare company Cairo West. Its ambition is to invest this year 2020, more than 500 million Egyptian pounds in companies in the health sector.
Al Ahly Capital Holding, a private equity firm founded in June 2008 by National Bank of Egypt (NBE) has acquired a new asset in the health sector.
This is health care provider Cairo West, media sources have learned. Financial details relating to this transaction have not yet been released.
The investment arm of the Egyptian state-owned bank NBE intends to create a holding company that will bring together several healthcare structures. In its forecast, Al Ahly Capital Holding announced its intentions to invest more than EGP 500 million in healthcare companies this year.
Before this operation, Al Ahly Capital Holding was mentioned in a project to acquire an Egyptian hospital structure. The buyout has not been confirmed by the investor, who is also considering entering the education sector in 2021, targeting the country’s middle class.
Source Ecofin Agency