British International Investment invests $4.5bln in 700 businesses across Africa

British International Investment invests $4.5bln in 700 businesses across Africa

The British International Investment (BII), the development finance institution of the UK government, aims to enhance its investments in Egypt during the coming period within the framework of the strategy to expand in African countries. Daily News Egypt interviewed Sherine Shohdy – Head of Egypt and Coverage Director of North Africa at BII, to learn more about the institution’s expansion plan.

What are the most prominent achievements of BII in Egypt in the past year?

To date, we have invested more than $4.5bn in 700 businesses across Africa as part of our ambition to be a long-term partner to the economies in which we invest. BII has over $760m in commitments in Egypt, and our direct and indirect investments span several critical sectors, such as clean infrastructure and energy, healthcare, manufacturing, and financial services, supporting over 50 businesses and over 32,000 jobs across the country. Significant investments in Egypt include:

● $100m commitment to Egyptian start-ups across the country, including most recently Algebra Ventures and Endure Capital, two pioneering VC firms that support and partner with visionary early-stage Egyptian businesses to build scalable companies in sectors such as fintech, agritech, edtech, logistics and healthcare, as well as companies supporting green growth.

● MaxAB, a