Egypt to list army-owned companies on stock exchange
Egypt plans to list army-owned companies on the stock exchange before the end of the year, after repeated delays.
Egypt is planning to list army-owned companies on the stock exchange before the end of the year, as part of a plan to include the private sector in the management of state-owned assets.
The decision to make state-owned companies public in Egypt is not new, but it has been repeatedly postponed.
In a speech at the Egyptian Family Iftar Banquet held in Cairo April 26, President Abdel Fattah al-Sisi announced that he has assigned his government to launch a program for the private sector’s participation in state-owned assets worth $10 billion annually for a period of four years, in addition to listing army-affiliated companies in the stock exchange.
Sisi did not speak of the nature or the number of companies affiliated with the Egyptian army that will be listed on the stock exchange.
