Egypt is moving ahead with plans to list four military-affiliated companies on the Egyptian Exchange (EGX), as the government accelerates efforts to expand private sector participation and restructure state assets, officials said Wednesday.
Prime Minister Mostafa Madbouly chaired a high-level meeting to review progress on the state offerings programme, which includes the planned flotation of Wataniya Petroleum, Silo Foods, ChillOut and the National Company for Roads Building and Development.
The initiative forms part of broader economic reforms aimed at increasing private investment, improving efficiency in state-owned enterprises and maximising returns from public assets, according to a cabinet statement.
The meeting brought together senior officials, including representatives from the Sovereign Fund of Egypt, the Armed Forces Financial Affairs Authority and the State-Owned Enterprises Unit, reflecting the strategic importance of the planned listings.
Officials said the programme is designed to deepen capital markets activity and support economic growth by widening ownership structures and attracting both domestic and foreign investors.
More Read
The planned listings are also seen as part of efforts to enhance transparency and governance in state-linked companies, which have historically played a significant role in key sectors of the economy.
The government has in recent years pursued a gradual reform agenda aimed at reducing the state’s footprint in certain industries while strengthening the role of the private sector in driving investment and job creation.
The latest move comes as EGX continues to serve as a central platform for Egypt’s privatisation strategy and broader capital market development.
More Read
Cabinet spokesperson Mohamed El-Homsani said the state offerings programme is intended to “maximise returns on public assets while ensuring sustainable economic benefits,” adding that it remains a core pillar of the country’s economic restructuring plan.
Officials also reviewed updates to the State Ownership Policy Document, which defines the government’s long-term approach to managing public enterprises and determining which sectors should remain under state control.
The revised framework is expected to clarify governance structures, improve operational efficiency and expand opportunities for private sector participation across selected industries.
Discussions during the meeting included the role of the Sovereign Fund of Egypt in managing transferred assets and preparing companies for potential investment or public listing.
The fund has been tasked with helping restructure selected firms to make them more attractive to investors, while ensuring that strategic assets are managed in line with national economic priorities.
Authorities said the ongoing reforms are intended to strengthen investor confidence and support Egypt’s efforts to attract foreign capital at a time of global economic uncertainty and tighter financial conditions.
More Read
Analysts say the planned IPOs of military-affiliated companies are particularly significant, as they represent a further step in integrating state-linked enterprises into the formal capital market system.
Madbouly instructed officials to closely monitor implementation of the offerings programme, stressing the need to ensure timely execution in line with presidential directives.
The government has previously signalled that expanding the IPO pipeline is a key element of its strategy to boost liquidity in the domestic market and broaden Egypt’s investment base.
If completed, the listings would mark one of the most notable phases in Egypt’s ongoing privatisation drive, which has been closely watched by international investors and financial institutions.
