CDC Group Establishes Permanent Presence In Egypt

0
102

CDC Group, the UK’s impact investor and development finance institution, has today
announced the appointment of Sherine Shohdy as its new Coverage Director for Egypt. In
this new role, Sherine will focus on building more partnerships with local businesses, due
diligence and support CDC’s Egyptian portfolio.


CDC is Africa’s largest impact investor and has invested on the continent for over 70 years.
CDC has been present in Egypt since 2003 and its portfolio of companies collectively employ
28, 351 people in sectors. In July 2020, CDC announced a deal to provide US$100 million of
Tier 2 capital to Commercial International Bank (Egypt). Other strong local partnerships
include Ezdehar Private Equity, Sawari Ventures and the 800MW Benban Solar Park in
Aswan.

Sherine joins CDC with a wealth of experience working in Egypt and across the Middle
Eastern and North Africa (MENA) region, both in development finance and across the
private sector. She most recently worked as a senior consultant to the International Finance
Corporation with a focus on the manufacturing, agribusiness and services sectors across the
MENA region, having previously spent close to a decade at the institution working on
investments mostly focused on the infrastructure and natural resources sectors in Egypt and
neighbouring countries. Sherine has also held senior positions at Hassan Allam Holding, its
subsidiary Hassan Allam Utilities and the Arab African International Bank.


Sherine’s appointment will help CDC achieve its mission of supporting the long-term,
sustainable growth of Egyptian businesses. CDC’s investments generate transformational
impact by creating jobs, lifting people out of poverty and improving the environmental,
social and governance standards within its investee companies.

Tenbite Ermias, CDC’s Managing Director for Africa, commented:“CDC is
committed to supporting Egypt’s private sector and accelerating the country’s economic
development. Sherine’s extensive knowledge, experience and networks will be critical to
achieving these objectives, particularly in terms of identifying promising businesses where
our investments can have a transformational impact and improve everyday lives.”
Sherine Shohdy added:“I am delighted to be joining CDC’s Africa Coverage Team,. I’m
looking forward to deepening CDC’s presence in Egypt, widening its footprint and helping
identify investment opportunities that will lead to tangible improvements in living standards
for Egyptians.”


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.