Egypt's 12 Billion Sovereign Wealth Fund Head Resigns

Ayman Soliman Steps Down, Future of Fund Uncertain

Key Points:

* Ayman Soliman, head of Egypt's sovereign wealth fund, has resigned. * The resignation was revealed by three sources familiar with the matter. * Soliman was appointed head of the fund in 2019.

Ayman Soliman, the head of Egypt's 12 billion sovereign wealth fund, has resigned from his position. Three sources familiar with the matter have confirmed the resignation to Reuters.

Soliman, who was appointed to lead the fund in 2019, outlined an ambitious vision for the fund. He told Reuters that he aimed to unlock value and create wealth from the assets overseen by the fund.

The sovereign wealth fund was formed in 2019 and has been given control of key assets in various industries.

In March 2021, the fund announced that it had attracted over 2 billion in investments.

The fund's performance has been closely watched by investors and analysts alike.

Soliman's resignation is a significant development and could potentially impact the fund's future direction.

It is not clear at this time what led to Soliman's resignation or who will be appointed to replace him.

The Egyptian government has not yet commented on the resignation.