Egypt to List Four State Firms and Cut Business Red Tape
Investment Minister Mohamed Farid Saleh announced plans to streamline company formation and ease capital raising to support the private sector. The government expects up to four state-owned IPOs and five private listings over the next year while maintaining a commitment to a floating exchange rate.
Egypt will list up to four state-owned companies on its stock exchange within the next 12 months to accelerate its economic recovery. Investment and Foreign Trade Minister Mohamed Farid Saleh told Reuters the move coincides with reforms to streamline M&A processes and ease capital raising. The initiative signals a commitment to reducing the state’s economic footprint under an $8 billion IMF reform program.
### Privatization and Market Expansion The government expects a total of nine new listings over the next year, split between four state-run IPOs and five private sector offerings. Investment and Foreign Trade Minister Mohamed Farid Saleh confirmed the government has already initiated the sale of a 20% stake in Misr Life Insurance, a transaction valued at approximately 14 billion Egyptian pounds ($270 million).
