KUN0054 4 GEN 0291 FRANCE /AFP -HOQ3
KIPCO's North Africa Holdings to develop regional investments
By Nasser Mutair
TUNIS, Nov 15 (KUNA) -- North Africa Holdings (NAH), established by Kuwait
Projects Company (KIPCO), aims to develop investments in the North African
region and create a true economic partnership with Kuwait based on mutual
interests, said NAH Chairman Abdullah Al-Bisharah on Wednesday.
Speaking to Kuwait News Agency (KUNA) at the conclusion of his visit to
Tunis as part of a KIPCO delegation, he said the new company would operate
with a capital of close to USD 200 million that could be raised based on
investment opportunities in the region.
He went on to say that investment activities would include banking and
banking services, telecommunications, multimedia, media, industry, and real
The establishment of NAH came out of belief that Kuwait bore a
responsibility in achieving Arab understanding and cooperation and in
utilizing economic capabilities for Arab development.
Al-Bisharah said Tunisia was likely to become a regional center for KIPCO's
operations in North Africa, saying that the company was always on keen on
investment opportunities of economic feasibility.
KIPCO Asset Management Company (KAMCO) launched NAH in October with a KD 50
million capital to exploit investment opportunities in North Africa.
The KIPCO Group is one of the biggest diversified holding companies in the
Middle East and North Africa, with assets worth more than USD 18 billion under
management or control. It has substantial ownership interests in a portfolio
of 54 companies operating across 17 countries and its main business sectors
are financial services and media and telecommunications. (end)
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