Egypt targets raising $6.5bln from IPO program by end-2024

Reuters

The IPO program contributes to luring further investment inflows, aiming to maximize the private sector’s role in the economic landscape, Maait noted.

Staff Writer, Arab Finance

February 13, 2024

PHOTO

Egypt is targeting to raise $6.5 billion from the state's initial public offering (IPO) program until the end of 2024, Minister of Finance Mohamed Maait said on the sidelines of the eighth annual Arab Fiscal Forum held in Dubai.

The IPO program contributes to luring further investment inflows, aiming to maximize the private sector’s role in the economic landscape, Maait noted.

Moreover, he added that the government intends to encourage the private sector’s participation in public investments to reach 65% within the upcoming years, taking into consideration the Golden License that opens the door for foreign investment.

On January 14th, the minister announced that the country had secured $3.5 billion so far from the IPO program.

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