300 million pounds.. Al-Ahly Capital's investments in the medical sector
Al-Ahly Capital intends to launch a medical center for diabetes, in partnership with a specialized international entity, with initial investments estimated at 200 million pounds.
Shrouq
During the current time, investing in the medical sector has become one of the best options for many investors because it is indispensable in addition to being a very profitable sector.
Karim Saadeh, CEO and Managing Director of Al-Ahly Capital Holding Company, the investment arm of the National Bank of Egypt, revealed that it intends to pump investments of about 300 million pounds in the health care sector.
Karim Saadeh added that Al Ahly Capital entered the negotiation stage to acquire a hospital, in addition to a group of medical clinics.
Al-Ahly Medical platform
Karim Saadeh explained that all investments in the healthcare sector will be under the umbrella of the “Al-Ahly Medical” platform, which the company recently launched.
He continued, saying: The value of Al-Ahly Capital’s contribution to its medical platform is estimated at 300 million pounds, which is the cost of acquiring Al-Nada Zayed Hospital in 2020, indicating that its ownership will be transferred to the platform during the coming period.
He pointed out that the internal rate of return on investment in the "Al-Ahly Medical" platform is about 28%, in light of very conservative expectations, pointing out that the minimum investment ticket in it is estimated at about $ 5 million.
The volume of loans in hard currency
Saadeh touched on the Canal Sugar Company project and the stage of starting commercial production next May with a capacity of 18,000 tons annually, with the goal of reaching 100% of the factory’s capacity within two years.
He revealed the details of borrowing about 70% of the project cost, which amounted to one billion dollars, as the volume of loans in hard currency (dollars - euros) amounted to 400-450 million dollars.
Launching a medical center for diabetes
Al-Ahly Capital intends to launch a medical center for diabetes, in partnership with a specialized international entity, with initial investments estimated at 200 million pounds.
Investing in education and financial services
It will include details of other investment sectors for “Al-Ahly Capital”, especially investment in education, non-banking financial services and the industrial sector.
Who is Al Ahly Capital?
It is noteworthy that "Al-Ahly Capital" is an investment entity 100% owned by the National Bank of Egypt It was established in 2008 with a paid-up capital estimated at 5 billion pounds, and the size of the investment portfolio is approximately 20 billion pounds, through contributions in 16 companies.
