CAIRO, June 29 – Egypt has granted preliminary stock exchange listings to four state-owned companies, advancing the government’s privatization programme aimed at increasing private sector participation in the economy and supporting ongoing economic reforms.
According to a statement issued by the Egyptian cabinet, the companies approved for preliminary listing include three from the petroleum sector, Engineering for Petroleum and Chemical Industries (ENPPI), Egyptian Linear Alkyl Benzene Company (ELAB) and Petroleum Marine Services, alongside Maamoura for Reconstruction and Tourism Development.
The preliminary listings represent the first stage in the process of offering stakes in the companies on the Egyptian Stock Exchange, allowing the government to gradually reduce its ownership while attracting private investment.
In a separate statement, Egypt’s petroleum ministry said the combined capital of the three energy-related companies amounts to US$687 million, underscoring the strategic importance of the assets being prepared for listing.
The latest announcement forms part of Egypt’s wider state asset divestment programme, under which the government previously unveiled plans to list 30 state-owned companies on the country’s stock exchange. The initiative is a key element of the economic reform programme agreed with the International Monetary Fund (IMF), which encourages a larger role for the private sector and aims to strengthen fiscal sustainability.
Providing an update on the programme, Investment Minister Mohamed Farid Saleh said four state-owned companies are expected to be listed before May 2027. He also stated that the government had achieved or even surpassed targets for the IMF programme, such as the country’s fiscal deficit and primary surplus.
The privatization programme has become a central pillar of Egypt’s economic strategy as the government seeks to attract domestic and international investment, deepen its capital markets and generate additional revenue through the sale of stakes in state-owned enterprises.
The planned listings are expected to broaden investment opportunities on the Egyptian Stock Exchange while reinforcing confidence in the country’s reform agenda, particularly as Egypt continues implementing measures agreed with international lenders to improve macroeconomic stability.
