Latest news with #NSPO
Zawya
02-06-2025
- Business
- Zawya
Egypt: Finance Ministry plans to offer stakes in 11 state-owned companies in FY2025/26
Arab Finance: The Ministry of Finance announced the government's intention to offer stakes in 11 state-owned companies during the upcoming fiscal year (FY) 2025/2026 as part of its ongoing privatization program, according to the May 2025 financial report. Among these companies are five affiliated with the Armed Forces' National Service Projects Organization (NSPO). The Sovereign Fund of Egypt (TSFE) is currently working on restructuring these companies to prepare them for listing on the Egyptian Exchange (EGX) between 2025 and 2026. Other companies included in the plan are the National Company for the Sale and Distribution of Petroleum Products (Wataniya), the National Company for Bottling Natural Water (Safi), Silo Foods, the as station operator Chillout, and the National Company for Roads Building and Development. The report also highlighted a 35.4% year-on-year (YoY) increase in private investments during the second quarter (Q2) of FY 2024/2025, representing 53.3% of total investments in Egypt. Meanwhile, public investments declined by 25.7% YoY in the same period, reflecting the government's strategy to shift economic leadership to the private sector. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Time Business News
21-05-2025
- Time Business News
Jailed for Protecting their Children: Family Court Is Silencing Mothers
It took seven weekends in jail, and a viral social media storm, before Rachel Pickrel-Hawkins was able to speak freely about what happened to her. The Colorado mother of three was sentenced last fall for defying a court order to send her children to 'reunification therapy' with their estranged father, despite her concerns about his history of abuse. What started as a quiet family court dispute exploded into an international debate on parental rights, trauma, and the criminalization of protective mothers. Pickrel-Hawkins is far from alone. There's Dr. Kreslyn Barron Odum of Jesup, Georgia. Last fall, she dropped her six-year-old daughter off at school, and didn't see her again for 32 days. Her ex-husband picked the child up without warning and relocated her three hours away. No emergency hearing was held. No abuse had been alleged. Still, the court failed to intervene. Since then, Dr. Odum has seen her daughter just four times, each under the supervision of a third party. 'I just want to see my daughter. I want her back home where she belongs,' she says . Dr. Odum is still waiting for a basic status hearing that has yet to be scheduled. A respected optometrist with no criminal record, she's now a mother on the sidelines, without explanation and without justice. In response, she formed a local support group on Facebook, where she discovered dozens of women near her hometown enduring similar struggles. Now they meet in the back of her eye clinic to share legal strategies, documentation tips, and emotional support. Some days, they simply cry. Like the other mothers, she worries the judge in her family court case may send her to jail as well. 'This is a national emergency,' said Danielle Pollack, policy director at the National Safe Parents Organization (NSPO), a nonpartisan nonprofit based in Washington, D.C. 'And it's hiding in plain sight. Family court is one of the most unregulated systems we have. Protective parents are being criminalized, and children are paying the price.' The crisis doesn't end with custody disputes. In state after state, women are being jailed simply for trying to shield their children from harm. In Colorado, Protective Mom Kalea Aine spent nearly a year behind bars under a sweeping gag order that forbade her from speaking about her family court case, not even to say why she was in jail. During the height of COVID-19, she was incarcerated without an attorney and couldn't answer basic questions from fellow inmates: 'What's your crime?' they asked. 'Why are you here?' She had no answer she was legally allowed to give. Her case drew international attention and inspired legislation at the Colorado Capitol to curb judicial overreach. Before her incarceration, Aine and advocate Maralee McLean, executive director of , had urged the Arapahoe County District Attorney to investigate alleged sexual abuse against her daughters. Three days later, Aine was behind bars, sentenced to 18 months for contempt. 'All she did was believe her daughters,' said McLean. 'That was her real 'crime.' And that's what our sick court system punishes.' Family court is a civil court system, meaning that constitutional protections, like the right to a public defender or a jury, often don't apply. Judges wield sweeping authority, and gag orders, custody reversals, and jail sentences for contempt are frequently handed down without public oversight. For mothers already facing trauma, legal intimidation, and financial pressure, the system becomes impossible to navigate—and impossible to fight. What these women have in common is simple: They believed their children. They raised concerns. And they were punished for it. 'This isn't just a legal story,' Dr. Odum says. 'It's a human rights story. It's a gender justice story. And it's long past time we told it.' TIME BUSINESS NEWS
Daily News Egypt
09-04-2025
- Business
- Daily News Egypt
Egypt signs agreements to offer five NSPO-affiliated companies under State Ownership Policy
Prime Minister Moustafa Madbouly witnessed on Wednesday the signing of a series of collaboration agreements between the Sovereign Fund of Egypt for Investment and Development (TSFE), the National Service Projects Organization of the Armed Forces (NSPO), and a select group of specialized local and international consulting firms. The agreements pertain to the restructuring and management of the offering process for several NSPO-affiliated companies. The ceremony was attended by Hassan El-Khatib, Minister of Investment and Foreign Trade. The agreements were signed by Magdy Anwar, Director-General of NSPO, and Noha Khalil, CEO of TSFE, along with representatives from the participating consulting firms. In the financial advisory capacity, Mohamed Hafez Gabr signed on behalf of EFG Hermes for Subscription Promotion and Coverage, while Amr Helal represented CI Capital for Subscription Promotion and Coverage. For legal advisory services, the signatories included Ragy Soliman, representing Adsero – Ragy Soliman and Partners Law Firm, and Omar Salah El-Din Bassiouny, Founding Partner of Matouk Bassiouny and Hennawy Law Firm. In the field of accounting and tax consultancy, the agreements were signed by Kamel Magdy Saleh on behalf of Grant Thornton Saleh, and by representatives Abdel Aziz and Magdy Ezz El-Din from PricewaterhouseCoopers Ezz El-Din, Diab & Co. On the commercial and strategic consulting front, Francesco Palmieri Luppia signed the agreements representing Boston Consulting Group. These agreements fall under the framework of the government's broader initiative to implement the state-owned companies offering program. The objective is to gradually transfer the management of key public assets to private-sector institutions, in line with Egypt's State Ownership Policy Document. The agreements specifically target the offering of five NSPO-affiliated companies: Wataniya Petroleum Company, Chill Out, Silo Foods, Safy, and the National Roads Company. The restructuring and offering process for these entities is governed by a memorandum of understanding (MoU) previously signed between NSPO and TSFE. According to the agreements, the initial offerings of some companies are scheduled to take place in 2025, with the remainder expected to follow in 2026.
Middle East
09-04-2025
- Business
- Middle East
OPEN// PM: Offering of several state-owned companies for private institutions to manage them
CAIRO, April 9 (MENA) – Prime Minister Moustafa Madbouli said on Wednesday that several cooperation agreements have been signed by the Sovereign Fund of Egypt, the National Service Projects Organization (NSPO) of the Armed Forces, and a group of specialized local and international consulting offices with regard to restructuring and managing the listing of several companies affiliated with the NSPO. During a press conference held following the weekly Cabinet meeting, the premier added that these agreements are part of the measures taken by state bodies concerned with implementing the government's listing program. This involves offering many state-owned companies to private sector institutions for management and operation, in line with Egypt's State Ownership Policy Document. The prime minister stated that the agreements for listing companies under the NSPO include the National Company for Petroleum, Chillout, Silo Foods Industries, Safi, and Watanya Company For Roads. Under the agreements, offering of some companies will be finalized in 2025 with the rest to be completed in 2026. Meanwhile, the premier said he followed up progress in the the project to develop the Pyramids archaeological area after the pilot operation of the Pyramids' entrance from Fayoum's direction. Madbouli also referred to reviewing ways to utilize the down town Cairo's 'ministries' square' while preserving its architectural nature and heritage. He said that the area, which used to house the government's headquarters, will be offered for re-utilization in June. (MENA) M N E/R E E
Al-Ahram Weekly
09-04-2025
- Business
- Al-Ahram Weekly
Egypt's TSFE, NSPO enlist consulting firms to restructure 5 army-affiliated companies ahead of IPO - Economy
The Sovereign Fund of Egypt TSFE and the National Service Projects Organization (NSPO) of the Armed Forces signed agreements on Wednesday with specialized local and international consulting firms to restructure army-affiliated companies ahead of a public offering. According to a cabinet statement, Prime Minister Mostafa Madbouly witnessed the signing of the agreements. In December 2024, PM Madbouly announced the government's plan to list four companies affiliated with the Armed Forces on the Egyptian Stock Exchange (EGX) in 2025. The move represents the first time the government has offered army-affiliated companies to investors since the start of its IPO program in 2024. It comes in line with Egypt's State Ownership Policy document and its commitment to the International Monetary Fund (IMF) under the ongoing $8 billion Extended Fund Facility (EFF) loan programme. The specialized local and international consulting firms overseeing the restructuring include EFG Hermes for underwriting and coverage and CI Capital for underwriting and coverage. Legal advisers include ADSERO, Ragi Soliman and Associates Law Firm, and Matouk Bassiouny Law Firm. Accounting and tax advisers include Grant Thornton and PricewaterhouseCoopers (PwC). Commercial and strategic advisers include Boston Consulting Group (BCG). Wednesday's agreements are part of the measures and steps the relevant state agencies took to implement the government's initial public offerings (IPO) programme. This involves offering several state-owned companies to private sector institutions for management and operation, per the government's state ownership policy document. These agreements specifically relate to the offering of a group of companies from the NSPO, including the National Petroleum Company, Chill Out, Silo Foods for Food Industries, Saffi, and the National Roads Company, through a group of specialized local and international consulting firms, as part of the framework agreement signed between the National Service Projects Organization and the Sovereign Fund of Egypt for Investment and Development. Under this agreement, the fund will restructure and manage the military-owned companies' offerings. According to the agreements, the offering of some of these companies is expected to be completed by 2025. Follow us on: Facebook Instagram Whatsapp Short link:
