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Abu Dhabi’s ADQ Buys Stakes Worth $1.85b in Egyptian Firms

Egyptian Stock Exchange (Reuters)
Egyptian Stock Exchange (Reuters)
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Abu Dhabi’s ADQ Buys Stakes Worth $1.85b in Egyptian Firms

Egyptian Stock Exchange (Reuters)
Egyptian Stock Exchange (Reuters)

Abu Dhabi's state holding company ADQ has bought shares worth $1.85 billion in five publicly traded Egyptian companies. The stock exchange said purchases for five companies were executed on Tuesday but did not say who the buyer was.

The deals included the purchase of 340.1 million shares of Commercial International Bank (CIB), Egypt's biggest private bank, for $911.5 million, and 45.8 million shares of Misr Fertilisers Production (Mopco) for $266.6 million.

They also included Abu Qir Fertilisers and Chemical Industries, which sold 271.6 million shares for $391.9 million, Fawry sold 215 million shares of electronic payments technology for $68.6 million, and Alexandria Container and Cargo Handling sold 476.7 million shares for $159.1 million.

Last December, ADQ established a new office in Egypt to build on its commitment to increase its investment in the country.

The opening of ADQ's new office complements the $20 billion strategic investment platform launched in 2019 between ADQ and the Sovereign Fund of Egypt.

The platform aims to help advance Egypt's economic development through joint strategic investment projects, specialized funds, and investment tools in vital sectors such as healthcare and pharma, utilities, food and agriculture, real estate, and financial services.

Meanwhile, Prime Minister Mostafa Madbouly met with EGX Chairman Mohamed Farid Saleh to review the proposed action plan to achieve digitization and benefit all citizens from investing in the stock market.

The action plan contributes to attracting foreign investments and providing the necessary funding to achieve the sustainable development goals in Egypt's Vision 2030.

The Prime Minister stressed that this meeting comes within the framework of the government's keenness to permanently coordinate with the EGX, adopt and support ambitious plans to achieve financial and investment inclusion.

They also addressed facilitating services through digital transformation to increase the Egyptian market's ability to attract investments.

Saleh presented several indicators related to EGX work during the recent period, which included developing the value of the offerings due to the resumption of the government offering program.

It will also increase the number of investors in the market following efforts to boost the investment environment and promote the stock exchange to serve the listed companies and the Egyptian economy.

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FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
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FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)

Dr. Abdul Hakim Elwaer, Assistant Director-General of the Food and Agriculture Organization (FAO), stated that the organization will take an active role at COP16, the UN conference on combating desertification, scheduled to take place in Saudi Arabia in early December.

In remarks to Asharq Al-Awsat, he expressed confidence that the conference—the first of its kind in the Middle East—would produce significant outcomes.

Elwaer’s comments came during a roundtable organized by FAO’s regional office in Cairo, attended by a select group of media representatives. The session focused on FAO’s participation in the upcoming conference and the importance of the Rio Trio —the integrated framework of the three major UN conventions addressing climate change, biodiversity conservation, and desertification.

Fida Haddad, FAO’s Program Officer for Land Rehabilitation and Climate Change, highlighted the interconnectedness of the three conventions and noted that COP16 would place a strong emphasis on land and water rehabilitation and their sustainable management.

Haddad pointed out that approximately 90% of the Middle East is affected by arid conditions. Despite this, local communities and Arab governments have made notable progress in addressing desertification and drought. She also announced that, for the first time, FAO has successfully placed food systems on the COP16 agenda, enabling discussions on how land rehabilitation can enhance food supply chains and systems.

Elwaer underscored FAO’s central role in achieving the second Sustainable Development Goal (SDG): eradicating hunger. He emphasized that FAO actively engages in the UN conventions on climate change, biodiversity, and desertification, which collectively contribute to this mission.

FAO’s focus, according to Elwaer, is on transforming food and agricultural systems to become more inclusive, efficient, and sustainable, aiming for better production, nutrition, and livelihoods. He highlighted the organization’s success in integrating these priorities into the agendas of the three conventions and collaborating with host countries on joint initiatives.

He further noted that Saudi Arabia’s hosting of COP16 is particularly significant for the region, which faces pressing challenges such as water scarcity, desertification, and food insecurity. The conference presents an opportunity for Middle Eastern nations to highlight these issues, explore solutions, and ensure their inclusion in global environmental discussions, not only at this event but in future COP sessions, he underlined.

Elwaer emphasized the growing global attention on desertification, as it is now impacting regions previously unaffected, such as southern Europe and parts of Latin America. These areas are witnessing alarming declines in arable land and forests, prompting them to seek lessons from the Arab world, which has developed resilience strategies to combat desertification over centuries.

FAO will have a strong presence at COP16, with two dedicated pavilions—one in the Blue Zone for official delegations and another in the Green Zone to engage civil society and conference participants, he said.

He added that in collaboration with Saudi Arabia and the UN, FAO will lead coordination on Food Day and Governance Day, scheduled for December 5 and 6, respectively. The organization will also participate in other specialized sessions throughout the conference.