Egypt to offer stakes in 10 firms in 2025
Updated 12/12/2024 3:38:00 AM
Arab Finance: The Egyptian government is planning to offer stakes in 10 companies in 2025, including banks, state-owned enterprises, and Armed Forces-affiliated firms, Prime Minister Mostafa Madbouly revealed in a press conference.
This comes as part of broader economic reforms aimed at attracting investments and enhancing governance across key sectors.
Moreover, Madbouly announced that the banking sector will see stake offerings in ALEXBANK and Banque du Caire.
In the state-owned category, projects such as the Gabal El-Zeit wind farm, Alamal Alsharif Plastics, Misr Pharma, and Chemical Industries Development Company (CID) will also be included.
Additionally, four Armed Forces-affiliated companies will be offered next year, namely Wataniya, National Company for Producing and Bottling Water (Safi), SILO Foods, and Chill Out. Offerings of Wataniya and Safi are planned for mid-2025 and Silo and Chill Out are by the same year’s end.
The Prime Minister emphasized that the offerings are part of implementing the State Ownership Policy document, with some shares going to strategic investors and others to be offered via the Egyptian Exchange (EGX).
Details regarding the percentages and terms of these offerings will be announced soon, he added.
Addressing the broader economic landscape, Madbouly explained that the government oversees 59 economic bodies, 28 of which will undergo development and governance initiatives.
While some entities will be merged or liquidated, others will be converted into public bodies to align with operational standards.
Highlighting the government's focus on energy, Madbouly reviewed progress on the Egypt-Saudi Arabia electrical connection project, reporting a 65% completion rate.
Also, he reiterated the government’s commitment to fostering economic stability and implementing transformative reforms to improve living conditions for citizens and position Egypt as a hub for investment and sustainable development.
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