Egypts privatization program to commence in March: Maait

PHOTO

ArabFinance: Egypt’s privatization program is set to resume in March, Finance Minister Mohamed Maait told Bloomberg Asharq.

“We can expect more state-owned companies to offer shares on the EGX in the coming weeks,” Maait said.

This comes a few days after Planning Minister Hala El Said announcement that the government plans to accelerate privatization by selling stakes in state-owned firms every month or two.

The government’s privatization drive started to gain momentum late last year with the successful IPO of state fintech firm e-Finance and a secondary stake sale by Abu Qir Fertilizers.

Before then, the program had only delivered one secondary offering in the three years since its announcement, due to poor global market conditions and the pandemic.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.