Dear Certificate Holders, Partners, and Stakeholders,
Since its establishment under FRA License No. 257, Arab Direct Investment Fund has represented a pioneering chapter in Egypt's direct investment and private equity landscape. ADIF was created as a regulated investment platform with a long-term mandate: to participate in Egypt's economic development through disciplined capital allocation, direct investment, and certificate-holder alignment.
Today, ADIF stands at an important inflection point.
Regional economies are undergoing structural transformation. Investment corridors are shifting, capital markets are adapting to new macroeconomic realities, and institutional investors are increasingly seeking exposure to real-economy sectors with defensive characteristics, operating depth, and long-term growth potential. In this environment, disciplined private capital has a critical role to play.
"Our objective is not only to allocate capital. It is to steward capital with discipline."
ADIF's legacy has been strongly rooted in asset-backed real estate and long-term investment participation. That foundation remains important — it gave the fund continuity, resilience, and credibility across different market cycles. The next phase requires a broader and more dynamic investment mandate, reflecting the scale of opportunities emerging across Egypt and the wider MENA region.
Our renewed strategy is focused on building ADIF into a diversified private equity platform with exposure to strategic real-economy sectors: hospitality and tourism infrastructure, food industries and agribusiness, energy and infrastructure transition, real estate, capital markets, and selected strategic assets. This direction is designed to capture market opportunities while maintaining disciplined risk management, governance, and long-term stewardship.
A central pillar of this transformation is governance.
As ADIF enters its renewed institutional chapter, the fund is strengthening its board and advisory depth through the addition of distinguished non-executive leaders with expertise across macroeconomic policy, development finance, market positioning, governance, and sector strategy. Their experience will support ADIF's ability to evaluate opportunities with greater depth, align investment activity with broader economic trends, and reinforce the fund's institutional credibility.
I would also like to recognize the contribution of ADIF's previous board members, management teams, certificate holders, and partners. The results achieved over the years reflect collective effort, continuity, and belief in the fund's long-term mandate.
"ADIF's history gives it credibility. Its governance gives it trust. Its renewed strategy gives it direction."
We will continue to build on ADIF's regulated foundation, historical certificate-holder structure, and long-standing market presence while strengthening governance, investor communication, responsible capital frameworks, and strategic sector exposure.
On behalf of the Board of Directors, I thank our certificate holders, partners, and stakeholders for their continued trust. We look forward to this next chapter with confidence, discipline, and a clear commitment to long-term value creation.