Latest news with #TSFE
Zawya
26-05-2025
- Business
- Zawya
Egypt: TSFE plans to maximize returns from state assets, El-Khatib
Arab Finance: The Sovereign Fund of Egypt (TSFE) is planning to maximize returns from state assets, Minister of Investment and Foreign Trade Hassan El-Khatib announced. The government is also keen on attracting more foreign investment for the fund's projects and moving forward with the State Ownership Policy Document by expanding partnerships with the private sector, added El-Khatib. The remarks came during the minister's speech at the Emerging Markets Intelligence & Research (EMIR) Center conference held in the UAE, with the participation of CEOs of 200 companies. El-Khatib noted that negotiations are underway between Egypt and the UAE regarding a strategic partnership agreement to advance joint economic and investment relations. He reviewed the currently adopted measures by the government related to fiscal, monetary, and trade policies aimed at facilitating investor access, attracting more investment, and increasing Egypt's foreign trade. The minister also highlighted the state's plans to reinforce the role of the private sector in the economy and expand the volume of domestic and foreign investment by securing an attractive and sustainable investment environment, in addition to formulating supportive policies and legislation. He outlined the government's priority sectors, including industry, health, agriculture, and investment, as well as renewable energy, solar energy technology, microchips, data centers, and outsourcing services. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
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
06-04-2025
- Business
- Middle East
OPEN// PM follows up on energy sector offerings
CAIRO, April 6 (MENA) - Prime Minister Mostafa Madbouli chaired a high-level meeting Sunday to follow up on the status of government asset offerings in the energy sector. The meeting was attended by Minister of Electricity and Renewable Energy Mahmoud Esmat, Minister of Investment and Foreign Trade Hassan El-Khatib, and CEO of the Sovereign Fund of Egypt (TSFE) Noha Khalil. Madbouli emphasized the government's strong commitment to regularly monitoring the plans' progress, in line with the State Ownership Policy Document that aims to empower the private sector and enhance its role in the national economy by expanding its participation in key projects. The meeting reviewed collaborative efforts between the ministries of electricity, investment, and TSFE to identify and promote promising investment opportunities in the energy sector, especially in renewable and clean energy, capitalizing on Egypt's substantial potential in the field. Discussions also covered progress in the implementation of current offerings in the energy sector, including projects the state plans to exit from in preparation for offering them to the private sector, with a particular focus on renewable energy, which continues to attract global interest. (MENA) M S H/R E E
Zawya
26-02-2025
- Business
- Zawya
Egypt plans to spur listings by moving state assets under wealth fund
Egypt is planning to move its state-owned enterprises under the scope of its sovereign wealth fund, TSFE, and enable the private sector to run them in order to maximize returns on trophy assets and encourage more listings in the short to medium term, Minister of Investment and Foreign Trade Hassan El-Khatib said. Speaking at the Investopia 2025 conference in Abu Dhabi, El-Khatib said the new plan aims to further promote integration between the public and private sectors in the country. 'I want to move the state-owned enterprises in batches to the fund and as you move them, get the private sector to run them. The idea is to have a proper governance partner with the private sector and eventually, list these companies in some cases,' he explained. 'So, the perception of the SWF will be a maximization of yield on the Return Value Added valuation.' The $12 billion TSFE, which is responsible for driving Egypt's IPO programme, achieved a milestone last year with the United Bank IPO in December, the country's first bank listing in over 25 years and the first IPO since 2021. Egypt's cabinet also said revealed last year, its plans to finalise several offerings in the coming months, with an additional 15 companies scheduled for future offerings. The Egyptian government has been reforming the business landscape in the country, facilitating the private sector to operate and lead economic development. 'Over the last 10 years, we have invested $550 billion in needed infrastructure but what has happened in this process is that private sector investments actually went down from 70% to 25%, which meant the role of the state needed to be further defined,' said El-Khatib. (Writing by Bindu Rai, editing by Seban Scaria)
Egypt Today
05-02-2025
- Business
- Egypt Today
Cairo House Egypt consortium partners with Marriott to develop Tahrir Complex into luxury hotel
Cairo – February 5, 2025: On Tuesday, Cairo House Egypt revealed that it has entered into a groundbreaking agreement with Tourism Investment S.A.E and Marriott International to transform the historic Tahrir Complex (Mogamma El-Tahrir) in downtown Cairo into a luxurious Autograph Collection Hotel, playing a key role in revitalizing the downtown area. The transformation of the Tahrir Complex is a key element in The Sovereign Fund of Egypt's (TSFE) broader initiative to breathe new life into downtown Cairo. According to a statement from Cairo House Egypt, the project is expected to act as both an 'anchor and catalyst' for future investments, positioning the district as a prime location for global business, tourism, and cultural activities. The Tahrir Complex has been a prominent government hub since its construction in 1951, serving millions of Egyptians over the decades who came to the building to conduct official business. Following a decree by President Abdel Fattah El-Sisi in September 2020, the complex was removed from its public service role, and ownership was transferred to TSFE for redevelopment into a commercial and tourism-focused space. In August 2022, the CairoHouse LLC development consortium, which includes four major partners — Global Ventures Group, Oxford Capital Group, Al Otaiba Investments, and Zoser Capital Partners — secured the rights to develop the building with an estimated investment of over $200 million. The new hotel is set to include 500 high-end guestrooms and serviced apartments, all designed to cater to both business and leisure travelers. Situated in the heart of Cairo, surrounded by embassies, government offices, and financial institutions, the hotel's location offers accessibility to key landmarks and business districts. Although the exact timeline for the completion of the project has not been disclosed, the development of the Tahrir Complex into a luxury hotel is expected to have a lasting impact on the local economy. The initiative aligns with Egypt's ongoing efforts to enhance its tourism infrastructure and attract greater foreign investment.
