Dar Ventures co-founder Nader Aboushadi wins ACT Treasury Professional of the Year in Dubai

Nader Aboushadi, chief treasurer of Sidara Group and co-founder of Dar Ventures, was named Treasury Professional of the Year at the Association of Corporate Treasurers’ ACT Middle East Treasury Awards in Dubai on 22 September. Aboushadi played a central role in Sidara’s c. GBP 210 million (c. USD 280 million) acquisition of Wood Group in March and oversaw a USD 1.35 billion, five‑year refinancing package that both refinanced existing debt and created headroom to absorb the Wood transaction.

"We are targeting an Egypt office by end‑2026 to serve the wider region, pending approvals," said Alcatel‑Lucent Enterprise (ALE) as it outlined plans discussed with Minister Mohamed Farid during bilateral meetings in Paris this week.

Aboushadi’s award caps a period of heavy corporate finance activity for Sidara and Dar Ventures. The group’s GBP 210 million acquisition of Wood Group closed in March and was financed in part through the USD 1.35 billion five‑year facility that Sidara used to refinance prior obligations and expand its acquisition capacity. The ACT recognition in Dubai highlights a treasury team that managed a complex cross‑border deal and a large refinancing under challenging market conditions.

Investment ministry shifts to targeted FDI push

The Investment and Foreign Trade Ministry is preparing a new foreign direct investment strategy that targets 16 industrial sectors, shifting from broad investment promotion to direct outreach to specific investors, Minister Mohamed Farid said in a ministry statement. The updated investment map identifies some 1,300 investment prospects across multiple governorates.

• Target sectors listed include garments and textiles, foodstuffs, automotive manufacturing, electrical equipment and engineering, electronics assembly, pharmaceuticals, green and renewable energy, machinery and chemicals.
• Egypt retained its position as Africa’s largest FDI recipient in 2025, attracting about USD 15 billion, per UNCTAD figures cited by ministry reporting.
• Farid held business talks in Paris with Meridiam, Casino Group (Monoprix), Alcatel‑Lucent Enterprise (ALE) and the UAE’s RMB Group focused on local manufacturing, sourcing and exports across priority sectors.
• Casino’s Monoprix discussed launching its first two Egyptian branches and sourcing from local food, textile and garment makers, with a rollout initially slated for 2025 targeting 15–20 stores.
• Meridiam raised plans to expand in renewables, healthcare and local manufacturing of desalination components — a sector that anchors Egypt’s USD 3.08 billion PPP pipeline.
• RMB continued work on a meat and poultry processing project in the Suez Canal Economic Zone; ALE signalled ambitions to localise assembly and establish a regional office by end‑2026.

Other corporate and policy moves

• Korra Energi entered a partnership with Japan’s Toshiba Mitsubishi‑Electric Industrial Systems Corporation (TMEIC) to target data center power infrastructure and industrial automation in Egypt and the region, bringing TMEIC’s UPS systems, motors, drives and clean energy equipment into Korra’s offering.
• State‑owned Port Said Container and Cargo Handling’s board approved tripling issued and paid‑in capital to EGP 3 billion from EGP 1 billion via 400 million new shares at EGP 5 each — a cash increase that preserves state ownership by offering shares pro rata with no subscription rights trading.
• Egypt and the UAE renewed an AED‑EGP currency swap for five years, maintaining an AED 5 billion facility (equivalent to about EGP 69 billion) to support bilateral trade and settlements.
• An arbitration panel in The Hague dismissed a USD 34 billion claim by Saudi investor Hashem Al Mehdar and his family, ruling it had no jurisdiction and ordering claimants to cover Egypt’s arbitration and counsel costs.

Outlook: The combination of high‑profile private sector transactions, targeted FDI strategy and renewed international financial arrangements signals a push to translate policy engagement into industrial projects and local manufacturing. Key near‑term milestones to watch include implementation of the 1,300‑opportunity investment map, progress on the Monoprix rollout and ALE’s decision on an Egypt office by end‑2026 — moves that could convert targeted outreach into concrete job‑creating projects across the 16 priority sectors.