Resignation of the CEO of the Egyptian Sovereign Fund

Three sources revealed today, Thursday, that the CEO of the Egyptian Sovereign Fund, Ayman Suleiman, has resigned from his position after less than five years since his initial appointment. The Egyptian Sovereign Fund was established in 2018, under Law No. 177 of 2018, and was affiliated with the Ministry of Planning, which recently joined the Ministry of International Cooperation in the newly formed government. According to the fund's official website, its aim is to attract private sector investments to the Egyptian market and encourage joint investment in state-owned assets to maximize their value and efficiency, contributing to the growth of the national economy. The Egyptian Sovereign Fund is also a participating member of the International Forum of Sovereign Wealth Funds (IFSWF). The fund oversees five subsidiary funds, which are: a fund for financial services and digital transformation, a fund for utilities and infrastructure, a fund for healthcare and pharmaceutical industries, a fund for tourism, real estate investment, and archaeological development, and a fund for asset management and restructuring.