The Clap
President El-Sisi assigned Prime Minister Madbouly’s government to begin listing military-owned companies on the EGX by the end of this year, aiming for more participation from the private sector in state-owned firms.
The deets
The Egyptian president announced the state’s plan is to maintain $10 billion annually in investments over 4 years.
Safi & Wataniya companies have gotten attention after the Sovereign Fund of Egypt’s CEO recently stated the possibility of their private or public offering.
The privatization program’s detailed strategy is going to be declared in a press conference after Eid El Fitr holidays, according to the Prime Minister.
Why this matter
Earlier this month, a ministerial committee met up to discuss the state companies that could go public this year. Around 4 to 5 companies could be listed on the EGX by the end of 2022.
