El Fayoumi explained that the share offerings would boost
investor confidence in the Egyptian economy and reflect positive steps toward
the correct economic path. He added that the offerings are part of the
government’s divestment plan from economic sectors, aimed at creating room for
private sector growth and enhancing its participation in economic activity.
He confirmed that the third issuance of the State Ownership
Document, launched in 2022, outlined plans to sell stakes in 10 companies,
either directly to investors or through partial offerings on the Egyptian Stock
Exchange.
The document indicated that investment banks and legal
advisors have been appointed for several companies under the Government Initial
Public Offering (IPO) Program, with relevant authorities working to complete
the sales according to market conditions.
El Fayoumi emphasized that the government’s push to empower
the private sector is part of its broader strategy to reduce direct
intervention in the economy and expand the ownership base.
He noted that government reports show around 19 full and
partial divestments were completed between March 2022 and June 2025, generating
$5.86 billion in proceeds. The government had initially targeted divestments
from 23 companies and assets worth $12.20 billion, achieving a 48% completion
rate.