The Planning Ministry committee charged with selecting the manager of Egypt’s EGP200bn sovereign wealth fund has reportedly decided to hire an Egyptian, Ministry sources told Al-Masry Al-Youm. Egyptians who were in the running to head the new fund have proven to be more than qualified for the job, leading to a hiring preference for a national, the sources added. A short list of names has already been selected from a pool of 220 and will be sent to the Madbouly Cabinet for approval. Egypt will announce the CEO of its new sovereign wealth fund in a month and a half’s time, Planning Minister Hala El Said said last week.
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