First Egyptian holding company to focus on North African markets

Five Egyptian businessmen decided to establish an Egyptian holding company to deal with North African markets with a capital of 725 million pounds ($200 million).

Yamani Foulfoula, head of the Egyptian - Moroccan business council, contributes to financing the new company, as well as Ahmed Shiha, Hassan El-Shafei and Fath Allah Fawzi. The businessmen own commercial communications with Algeria, Tunisia and Morocco.

Foulfoula told ArabicNews.com that the Arab Contractors Company, the Bank of Exports Development and the National Investment Bank (affiliated to the Egyptian government) will contribute to the company's capital.

The company is considered the first of its kind in the commercial relations field between Egypt and North African countries, and its activities will focus on investment in agricultural, industrial and commercial projects.