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International Finance Corporation (IFC), the private sector arm of the World Bank Group, has invested $100 million in the initial public offering (IPO) of Egypt’s Banque du Caire. This gives IFC a stake of about 7% in the bank.
The European Bank for Reconstruction and Development (EBRD) invested the same amount in the offering, bringing the total from the two development banks to $200 million.
“The successful completion of Banque du Caire’s IPO marks a defining milestone in the bank’s history and a new chapter in its continued evolution. It reflects the strength of our banking franchise, the resilience of our business model and the confidence of investors in the bank’s strategic direction and long-term prospects. As a publicly listed institution, we remain focused on building on our established strengths, maintaining disciplined risk management and sound governance, and pursuing sustainable growth that creates lasting value for our shareholders, customers and the wider economy. We value IFC’s participation as a long-term institutional investor and look forward to further strengthening our partnership in support of the bank’s next phase of development,” said Hussein Abaza, CEO and Managing Director of Banque du Caire.
Banque du Caire is an Egyptian bank that focuses on smaller businesses. More than three-quarters of its clients are outside Cairo. It has about 899,000 customers and total lending of about $5 billion.
IFC and the bank already work together. In 2024, IFC committed $50 million to support the bank’s lending to micro, small and medium enterprises. Half of that was set aside for women-owned businesses through a five-year loan. IFC also signed a $50m line for trade finance guarantees. It has helped the bank set up an Environmental and Social Management System and strengthen its corporate governance.
“Our latest investment with Banque du Caire reflects IFC’s commitment to empowering Egypt’s financial sector. Through our partnership, we aim to help businesses access the finance they need to grow, invest, and create more and better jobs, while mobilising private capital to support Egypt’s development priorities,” said Ary Naïm, IFC Division Director for North Africa and the Horn of Africa.
IFC is the largest global development institution focused on the private sector in emerging markets. It works in more than 100 countries and committed a record $71.7 billion to private companies and financial institutions in developing countries in fiscal year 2025.
IFC said its investment should help the bank lend more to businesses and households. By 2030, Banque du Caire expects to more than double its financed customers to 1.9 million. It also expects to raise total lending from about $5 billion to $8.9 billion.
Micro, small and medium enterprises make up more than one-third of Egypt’s GDP and employ almost 40% of its workforce, but many still struggle to get finance.
The IPO is also part of the Egyptian government’s Asset Monetisation Programme, which aims to bring more private investment into the economy. IFC said the listing could widen the bank’s investor base and attract more domestic and international capital.
The announcement comes a month after launching a private debt investment vehicle with impact investment manager BlueOrchard that aims to raise $2 billion in commitments for emerging markets.
