Avanz Capital Egypt has launched a fund that will be known as the Avanz Manara for Private Equity to support the growth of small to medium enterprises (SME) that are based in Egypt. The fund is expected to partner with local investors, overseas investors and also open the market for Egyptian banks to participate in the various transactions with financing. The fund will contribute to Egypt meeting its Sustainable Development Goals by supporting the SME market segment. The fund is looking to raise 2-billion Egyptian pounds and has already secured 905-million Egyptian pounds from Egyptian investors such as the National Bank of Egypt, Suez Canal Bank, Banque Misr, Banque du Caire, Ahli United Bank, United Bank, Attijariwafa Bank Egypt and Misr Insurance Holding Company.
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