Nassef Sawiris sets up investment firm

June 12, 2014 1:34 am

Egyptian billionaire, Nassef Sawiris, , whose family owns the Orascom group of companies, has set up an investment firm to tap into the country’s growth opportunities, Reuters has reported. The new investment firm, Nile Holding Investments, has investors from the Arab Gulf, Europe and the United States. Nile Holding will give financial backing to a Duet-CIC Egypt Opportunities Fund, a private equity fund with up to $300m of committed capital to invest in consumer and consumer-related industries, the firm said.