Latest news with #state assets
Zawya
4 days ago
- Business
- Zawya
Egypt PM defends plan to offer state-owned lands for private investment
Egyptian Prime Minister Mostafa Madbouly on Wednesday defended the government's plan to offer unused state-owned lands for investment in partnership with the private sector, pushing back against criticism that the state was selling off its assets. Speaking at the weekly cabinet meeting, Madbouly addressed accusations that followed recent meetings on the development of Khedivial Cairo, Azbakeya, the Fustat Hills, and the Nile Corniche. 'We were surprised by those who said, 'You are also going to sell state assets!'' Madbouly said. 'The talk began as if the state was squandering its unused assets… I'd like to talk to the citizens about these points. We have assets that are abandoned or not optimally utilised, meaning land on the Nile is used as a warehouse or a public transport garage!' Madbouly explained that the government has directed a complete inventory and valuation of these lands and assets to identify investment alternatives. 'These lands could be worth tens of billions of pounds, and therefore, offering them as investment opportunities in partnership with the private sector, certainly for tourist, hotel, or real estate use,' he said. 'Here, I'd like to pause,' he continued. 'The state used to be criticised for intervening instead of providing opportunities for the private sector. Today, when we offer the matter to the private sector, we are surprised by 'we are squandering the assets!'… We all agree, we can't leave assets without benefiting from them.' He stressed that developing land for a project creates an operating system, job opportunities, added value, and tax revenues, making it a complex issue beyond just a simple partnership or sale. The prime minister's comments came after he chaired a meeting on Monday to review investment opportunities for vacant lands along the Nile Corniche in several Cairo districts. During that meeting, he instructed officials to expedite a comprehensive and accurate inventory and valuation of these lands to offer them as ready investment opportunities. Madbouly emphasised that the government is working to maximise the return from all unused state assets to add value to the Egyptian economy through effective management and partnerships with the private sector. He added that the vision for developing areas like Khedivial Cairo is integrated, involving complete replanning while preserving historical constants. 'It is not permissible to demolish them or change their identity,' he said of the historic buildings. 'We are looking at international experiences on how they are re-purposed and put back to work… many streets can become pedestrian-only and serve as promenades for citizens. These are the ideas we are talking about.' © 2025 Daily News Egypt. Provided by SyndiGate Media Inc. (
Zawya
30-07-2025
- Business
- Zawya
Ghana: Finance Minister Inaugurates National Asset Management Working Committee
The Minister for Finance, Dr. Cassiel Ato Forson, has inaugurated a National Asset Management Working Committee with a mandate to identify, account for, and ensure the proper management of Ghana's public assets. Speaking at the ceremony in Accra, Dr. Forson highlighted the absence of a comprehensive State Assets Register as a major gap in public financial management. He called for urgent steps to reverse years of neglect, misuse, and unlawful occupation of government properties. He also expressed concern about the deteriorating condition of several state assets and the wanton sale of public lands, urging the committee to bring such practices to an end. The committee is chaired by Deputy Minister for Finance, Hon. Thomas Ampem Nyarko, who assured that the era of acquiring new public assets without taking stock of existing ones would be brought to an end under his leadership. The full membership of the committee includes: 1. Hon. Thomas Ampem Nyarko – Deputy Minister, Ministry of Finance (Chairperson) 2. Ms. Abigail Naa Odoi – Deputy Director, Office of the President 3. Mr. Edwin Nkrumah – Assistant Chief Estate Manager, Ministry of Works, Housing and Water Resources 4. Dr. Sylvia Adusu – Chief State Attorney, Attorney-General's Department 5. Mrs. Mavis Asare Donkor – Director of General Administration, Ministry of Education 6. Mr. Frank Raji – Director of General Administration, Ministry of Health 7. Mr. Theophilus Okine – Director of Procurement and Supply Chain, Ministry of Defence 8. Dr. Gideon Asamoah Tetteh – Director of Finance and Administration, Ministry of the Interior 9. Mr. Erya Nutsugah – Director of Policy, Planning, Budget, Monitoring and Evaluation, Ministry of Lands and Natural Resources 10. Mr. Dela Kemevor – Director of General Administration, Ministry of Local Government, Chieftaincy and Religious Affairs 11. Mr. Walter A. Adabere – Acting Director of Administration and Deputy Director, Research, Monitoring and Evaluation, Office of the Administrator-General 12. Dr. Gad Asowoe Akwensivie (Esq.) – Acting Administrator, Office of the Administrator of Stool Lands 13. Mr. Anthony Mallen Ntiador – Acting Deputy Executive Secretary, Lands Commission 14. Mr. James Bondzie – Principal Estate Manager, Public Works Department 15. Mrs. Millicent Atuguba – Acting General Manager, Operations, State Interests and Governance Authority (SIGA) Distributed by APO Group on behalf of Ministry of Finance - Republic of Ghana.
