FEP Capital to pump $13mln in Egypt’s Food Sector in 2015

FEP Capital to pump investments worth EGP100 million (US$12.7 million) in food sector before the end of 2015, FEP Capital CEO Omar  Maghawry said Tuesday.

Maghawry told Amwal Al Ghad that FEP Capital will inject those investments through Engazat Misr Company- the company’s investment arm in food sector- that was founded within the first half of 2015 with initial capital of EGP3 million.

The official added that FEP Capital targets increasing the capital of Engazat Misr Company by 7-9 million Egyptian pounds within the upcoming few days.

In March 2015, FEP Egypt acquired a majority stake of 67% in White House Securities and converted its name to FEP Capital, which is currently administrating Engazat Misr.