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The Egyptian cabinet announced on Sunday that the government has lined up four state-owned companies for privatisation by granting them preliminary stock market listings.
This initial step serves as a direct prelude to offering public stakes in these enterprises on the national stock exchange.
The new listings include Maamoura for Reconstruction and Tourism Development alongside three prominent petroleum sector firms: Engineering for Petroleum and Chemical Industries (ENPPI), Egyptian Linear Alkyl Benzene Company (ELAB), and Petroleum Marine Services.
A separate statement from the petroleum ministry revealed that the three energy-sector companies hold a combined capital of $687 million.
These listings advance Egypt’s broader economic strategy to divest from 30 state-owned enterprises, a plan the government formulated to meet reform targets agreed upon with the International Monetary Fund (IMF).
Investment Minister Mohamed Farid Saleh confirmed that the government expects to finalise the public offerings for these four state companies before May 2027.
Saleh also emphasised that Egypt has already achieved or surpassed its primary IMF programme targets, specifically highlighting major improvements in the country’s fiscal deficit and primary surplus.
