The International Finance Corporation (IFC), the private-sector arm of the World Bank Group, has invested $100 million in Banque du Caire’s initial public offering (IPO), securing an approximately 7% stake in the Egyptian bank.
The investment is intended to strengthen the bank’s capacity to expand financing for businesses and households, with a particular focus on micro, small, and medium-sized enterprises (MSMEs). These businesses contribute more than one-third of Egypt’s GDP and employ nearly 40% of the country’s workforce, yet continue to face challenges in accessing finance.
Banque du Caire has placed smaller businesses at the center of its lending strategy, with more than 75% of its customers located outside Cairo. With IFC’s investment, the bank aims to more than double the number of customers it finances by 2030, from approximately 899,000 to 1.9 million, while expanding its total lending portfolio from around $5 billion to $8.9 billion.
“The successful completion of Banque du Caire’s IPO marks a defining milestone in the bank’s history,” said Hussein Abaza, the bank’s CEO and managing director. He noted that the offering reflects investor confidence in the bank’s strategy and long-term growth prospects.
Abaza added that the bank will continue to prioritize sustainable growth, disciplined risk management, and sound corporate governance, welcoming IFC’s participation as a long-term institutional investor.
The latest investment builds on an established partnership between IFC and Banque du Caire. In 2024, IFC committed $50 million to support lending to MSMEs, with half of the five-year financing facility allocated to women-owned businesses. The two institutions also signed a $50 million trade finance guarantee facility.
In addition, IFC has supported the bank in developing an environmental and social management system and enhancing its corporate governance practices.
“Our latest investment with Banque du Caire reflects IFC’s commitment to empowering Egypt’s financial sector,” said Ary Naïm, IFC’s division director for North Africa and the Horn of Africa.
The investment is being made alongside the European Bank for Reconstruction and Development (EBRD), which is also investing $100 million in the offering, bringing the two development institutions’ combined participation to $200 million.
The transaction supports the Egyptian government’s Asset Monetization Programme, which seeks to expand private-sector participation in the economy and attract private investment. Banque du Caire’s IPO is expected to diversify the bank’s investor base and encourage additional domestic and international capital inflows.
The offering is also aligned with the World Bank Group’s Country Partnership Framework for Egypt for fiscal years 2023–2027, which focuses on creating more and better private-sector jobs and strengthening the private sector’s role in economic activity.
Since fiscal year 2022, the World Bank Group has mobilized nearly $6.7 billion in private capital for Egypt through reforms, financing, guarantees, and strategic partnerships.
