UAE’s Al-Futtaim Group to invest up to $1 billion in Egypt, according to a cabinet statement
An Egyptian cabinet statement announced on Thursday that Dubai-based Al-Futtaim Group is considering investments in Egypt between $700 million to $1 billion over the next three years.
Feyisayo Ajayi
1 min read
The Al-Futtaim Group is one of the most progressive, large conglomerates based in Dubai, United Arab Emirates.
An Egyptian cabinet statement announced on Thursday that Dubai-based Al-Futtaim Group is considering investments in Egypt between $700 million to $1 billion over the next three years.
As experts look for increased exchange rate flexibility to forestall repeat crises, Gulf Arab powers are channeling up to $22 billion to Egypt to assist it to overcome a currency crisis, the third such bailout in a decade.
This report’s information was first seen on Reuters; to read more, click this link.
