THE PORTFOLIO, STRUCTURE AND STRATEGY

CIIC's portfolio consists 95% of private equity investments held over the medium to long term. The other 5% is a small trading portfolio that takes the pulse of the local public market. While broadly based and built across a number of economic sectors, the portfolio is being progressively restructured to provide focus. Emphasis is being placed primarily on a first tier encompassing financial services, technology and tourism, which together represent close to 50% of the total, and a second tier consisting of energy, agribusiness and pharmaceuticals, with 25%. This concentration of our management, time and capital on selected segments of the economy, which we regard as presenting above-average potential growth and returns, will allow us to better perform our role as private equity capitalists, i.e. as value-added partners. We do not aim to be all things to all people, but want to be the partner of choice to entrepreneurs whom we choose to back in the realization of their strategic plan. We want to help them grow to critical size, attract capital and high-talent human resources, and eventually win skills and markets from competitors. What we hope will evolve as Egyptian national champions in high-growth areas.

While consolidation has been taking place globally, Egyptian industry has remained largely divided and fragmented, and apart from a few exceptions without a champion. CIIC's economic imperative is to act as a catalyst in creating a national critical mass in key sectors, as a prelude to regional, and one day international, expansion. The strategy set two years ago was maintained and progressively implemented.

CIIC Sector strategy:
CIIC is focusing on six promising sectors:
Financial Services
Technology, Media & Telecommunication
Tourism
Oil, Gas & Energy
Pharmaceuticals
Food & Agribusiness
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