The Sovereign Fund of Egypt (TSFE) held its first board meeting since the appointment of the new cabinet.

During the meeting, the board approved the fund's financial statements and budget, paving the way for its presentation to the General Assembly headed by the Prime Minister. They also discussed strategies to attract foreign investment and implement the State Ownership Policy Document.

Chief Strategy and Business Development Officer, Noha Khalil, has been appointed interim CEO overseeing the fund's operations until a permanent replacement is found.

Headed by Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, the board convened at the Ministry’s headquarters in the New Administrative Capital.

The meeting included Board of Directors members: Counselor Mohamed Aba Zeid, Walid Gamal El-Din, Sherine El-Sharkawy, Nidal Assar, Mohamed Abbas Fayed, Eng. Tarek Tawfik, and Eng. Yehia Zaki. Lobna Helal also attended the meeting via video conference with the previous CEO of TSFE Ayman Soliman and the fund’s Chief Financial Officer Fadi Anwar. 

The TSFE, established in 2018, plays a crucial role in Egypt's economic development by promoting private sector participation and attracting foreign investment. Its board meeting signifies a renewed commitment to these objectives and a continued focus on strengthening Egypt's economic resilience.