Military Linked Companies to Be Listed on Stock Exchange

The Egyptian government plans to list three to four military-affiliated companies on the Egyptian Exchange (EGX), according to an announcement by Prime Minister Mostafa Madbouly. Details of the listings will be unveiled next week, marking a significant step in the government’s push to enhance private sector participation and transparency.

The initiative is part of a broader privatisation programme aimed at raising up to USD 2.5 billion during the 2024/25 fiscal year. The strategy includes divestments in sectors such as pharmaceuticals, chemicals and construction, while scaling back government involvement in areas like power plants.

Since March 2023, Egypt has raised USD 3.1 billion through state asset sales, building on the USD 2.5 billion generated in 2022. The program aligns with Egypt’s partnership with the International Finance Corporation (IFC), which serves as a strategic advisor. The IFC provides technical assistance for asset preparation, governance improvements, and transaction execution under the State Ownership Policy launched in 2022.

This privatisation effort aims to boost competitiveness, attract investment, and create jobs, contributing to Egypt’s broader economic reform agenda under the World Bank Group Egypt Country Partnership Framework.