The Sovereign Fund of Egypt (TSFE) has appointed Noha Khalil as its new acting Chief Executive Officer (CEO), succeeding Ayman Soliman, who resigned effective June 4th.
The appointment was confirmed by the Ministry of Planning, Economic Development, and International Cooperation.
The decision was made during a TSFE board of directors meeting chaired by Minister Rania Al-Mashat. The meeting also included a review of TSFE’s independent and consolidated financial statements, as well as the Accountability State Authority’s (ASA) report. Additionally, the board approved the fund’s budget statement, which is now slated for submission to the general assembly for final approval.
Established in 2018, TSFE is committed to promoting sustainable development projects. In December 2023, President Abdel-Fattah El-Sisi introduced new regulations to restructure TSFE’s general assembly, now chaired by Prime Minister Mostafa Madbouly.
In the same year, the Sovereign Wealth Fund Institute ranked TSFE 47th among the world’s top 100 sovereign funds, with assets valued at $12 billion.
Who is Noha Khalil?
Khalil previously served as TSFE’s Chief Strategy and Business Development Officer. Prior to this role, from 2020 to 2022, she held the position of Chief Investor Relations Officer at TSFE.
Before joining TSFE, Khalil co-founded Accelero Capital, a prominent investment and management group focused on telecommunications, digital media, and technology sectors. Her leadership at Accelero played a pivotal role in revitalizing numerous public and private companies across the Middle East, Europe, and North America.
Khalil’s career includes several significant roles in the finance and telecommunications sectors. She served as Investor Relations Director at Orascom Telecom Holding S.A.E., Deputy Group Director of Investor Relations at VimpelCom Ltd., and Vice President at Pharos Investment Banking S.A.E. Additionally, she held positions such as Financial Manager at LINKdotNET and Online Trading Manager at ArabFinance.
Khalil has been honored with the Middle East Investor Relations Society Award for Best Company Representative. She holds a Bachelor of Commerce degree from McGill University.
