Actis, an emerging markets-focused private equity manager, has appointed Ahmed Dabbous as head of its operations in North Africa, based in Cairo. Dabbous replaces Andrew Brown who left Actis in October to join French firm SGAM AI Private Equity as partner.
Dabbous came from a seven year stint with the International Finance Corporation, the private sector arm of the World Bank Group, where he was the leader of investment teams executing transactions in the manufacturing and service sectors, and advised the US government on setting up an investment fund for the Middle East.
Dabbous spent his early career as a financial adviser in Cairo, working for Orascom, a group with companies in telecoms, construction, hotels and technologies operating in the Middle East, Asia and Africa.
In September Actis invested $42 million in Paras Pharmaceuticals, a healthcare and personal business based in India.
Also in September Actis held a final close of its South-East Asia-focused fund with $130 million of commitments.
Actis has $3.3 billion (€2.5 billion) in funds under management. It has two funds currently investing, the $355 million Actis Africa Fund II and the $211 million Canada Investment Fund for Africa.