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Orascom Investment Eyes Retail Sector Growth With Sarwa Bid

Orascom Investment Holdings’ bid for a non-controlling stake in Sarwa Capital is part of the group’s strategy to expand in the retail sector, which it sees as the future in Egypt, OIH’s chief executive said on Wednesday.

“We’ve been watching this company for a long time,” Tamer El Mahdi, who also serves as Orascom Investments’ managing director, said in a telephone interview. “It’s a company working in the retail market, which is something we believe is going to grow to a large degree during the next phase, with the economy of Egypt improving.”