Home Northern Africa Egypt Pushing Plans to List Military-Owned Companies

Egypt Pushing Plans to List Military-Owned Companies

9
Egypt Pushing Plans to List Military-Owned Companies

(3 Minutes Read)

This move is aligned with Egypt’s State Ownership Policy Document, which aims to strengthen the private sector and drive economic reforms. Last month, Madbouly announced the government’s intention to offer stakes in four military-owned companies in 2025.

Egypt is pushing forward with the privatisation of military-owned companies, with Prime Minister Mostafa Madbouly instructing officials to expedite plans for listing these companies on the Egyptian Exchange (EGX). In an earlier meeting, the prime minister emphasised the need for a clear roadmap and timeline.  He also tasked Minister of Investment Hassan El Khatib with closely monitoring the progress of these stake sales.

During the meeting, the Prime Minister reviewed the ongoing efforts and instructed officials to move ahead with the listing of military-owned companies, which is part of the government’s broader privatisation agenda.

This move is aligned with Egypt’s State Ownership Policy Document, which aims to strengthen the private sector and drive economic reforms. Last month, Madbouly announced the government’s intention to offer stakes in four military-owned companies in 2025.

Read Also:

https://trendsnafrica.com/egypts-trade-with-oman-declines-in-2024/

These companies are expected to include Wataniya, a filling station operator; Safi, a bottled water producer; Silo Foods, a food manufacturer; and Chill Out, a fuel retailer. Madbouly confirmed that the IPOs for Wataniya and Safi are expected to take place by mid-2025, while Silo Foods and Chill Out are slated for later in the year.