Vodafone Egypt chief executive Hatem Dowider has said that the Vodafone Ventures Fund (VVF) will unveil its investment in two companies within the next two weeks, according to news provider The Daily News Egypt.
Dowider said to Daily News Egypt that VVF, which was announced in June, aims to invest in 10 to 15 tech firms in its first year. He said that the fund will be looking to appoint one or two Vodafone representatives on the board of directors of companies.
VVF will be looking to invest E£20m ($3.3m) in start-ups working in communications.
VVF Investment Manager Mohamed Elayuty added to Daily News Egypt the fund is in negotiations to buy up shares in six other companies.
Dowider has been CEO of Vodafone Egypt since June 2007. He previously worked for the company internationally as CEO Partner Markets in Vodafone Group, and has been with the company since 1999.