Madbouly calls on government to facilitate privatization efforts

Egypt Today

27-01-2025

Cairo – January 27, 2025: Egypt is pushing forward with the privatization of military-owned companies, with Prime Minister Mostafa Madbouly instructing officials to expedite plans for listing these companies on the Egyptian Exchange (EGX).
In a meeting earlier today, the prime minister emphasized the need for a clear roadmap and timeline for the process.
He also tasked Minister of Investment Hassan El Khatib with closely monitoring the progress of these stake sales.
During the meeting, the Prime Minister reviewed the ongoing efforts and instructed officials to move ahead with the offering of military-owned companies, which is part of the government's broader privatization agenda.
This move is aligned with Egypt's State Ownership Policy Document, which aims to strengthen the private sector and drive economic reforms.
Last month, Madbouly announced the government's intention to offer stakes in four military-owned companies in 2025.
These companies are expected to include Wataniya, a filling station operator; Safi, a bottled water producer; Silo Foods, a food manufacturer; and Chill Out, a fuel retailer.
Madbouly confirmed that the IPOs for Wataniya and Safi are expected to take place by mid-2025, while Silo Foods and Chill Out are slated for later in the year.
The PM also highlighted the government's commitment to advancing the privatization process in line with its broader economic reform goals and supporting the private sector's role in driving growth.
Recent privatization efforts have included the sale of a 30 percent stake in the United Bank, raising approximately LE 4.57 billion.
Wataniya and Safi have been part of the government's privatization plans since 2023, with several close calls announced by Madbouly and then Minister of Planning and Economic Development Hala El Said.