Stronghold Global, the international investment house, today announces a partnership with the Egyptian African Arab Co. for Development (EGAAD) to promote foreign direct investment and trade within the African continental free trade area and Arab League Nations.
The agreement between Stronghold Global, an economic development platform for emerging markets headquartered in London, and EGAAD, a leading private sector development partner in Africa headquartered in Cairo, will link up three key regional markets – Europe, the Middle East and Africa – connecting private investors with development partners and stimulating cross border investment and trade in the African continent, which will prove to be transformational.
Stronghold Global and EGAAD signed the agreement with a ceremony at the 7th annual Builders of Egypt Forum in Cairo, a flagship event for the engineering, procurement, construction and project finance industries in North Africa and the Middle East, opened on Monday 20 June by Egypt’s Prime Minister, Dr. Mostafa Madbouly.
Tohib Iyiola, Group CEO of Stronghold Global, and Reda Boulos, CEO of EGAAD, issued this joint statement:
“Stronghold Global and EGAAD together believe that the future of Africa will be built by Africans for Africans. We are pleased to announce our framework agreement expressing our intention to jointly finance and mobilise transformational economic development projects across the continent.
“This agreement promotes access to African markets for investors in Egypt and across the Middle East and Europe. It will particularly focus on overcoming barriers to successful engineering, procurement, and construction of the next generation of large-scale and complex infrastructure projects. Additionally, Stronghold Global and EGAAD will jointly finance direct investment by Egypt’s private sector in projects throughout Africa.
“These projects will provide African economies with a fast track to sustainability and global trade and GDP growth.”
Tohib Iyiola, Group CEO of Stronghold Global, added:
“Stronghold Global aims to be the partner of choice to unlock alternative investments in Africa and accelerate trade and GDP growth in emerging markets. This partnership builds on our track record and draws on our expertise in project finance and infrastructure finance, and the potential this has to transform Africa.”
Reda Boulos, CEO of EGAAD, added:
“We are pleased to have signed this important partnership with Stronghold Global this week, in the presence of business and government delegates from across the Arab League and Africa. Our partnership ensures that Egyptian investors are key players and can contribute to global trade, GDP growth, infrastructure creation and sustainable development in Africa.”
About EGAAD
EGAAD (Egyptian African Arab Co. for Development) is a consortium composed of some of the most prominent market leading business groups in the region for the sole purpose of investing, developing, and establishing long-term partnerships within African countries targeting various essential sectors such as infrastructure, development & construction, energy, water treatment, digital transformation, tourism, commodity trade, pharmaceuticals, agricultural, mining, and industrial sectors.