Egypt Plans 4 State Listings in 12 Months Under $8 Billion IMF Program
Updated
Updated · Global Finance · Jul 20
Egypt Plans 4 State Listings in 12 Months Under $8 Billion IMF Program
3 articles · Updated · Global Finance · Jul 20
Summary
Up to four state-owned companies will be listed on the Egyptian Exchange by summer 2027, with a 20% sale in Misr Life Insurance expected to raise about 14 billion Egyptian pounds ($277 million).
The push is part of Egypt’s $8 billion IMF reform program and State Ownership Policy, aimed at shrinking the state’s role and making it easier for companies to raise capital and complete mergers and acquisitions.
More than seven offerings in total — including private-sector firms — are expected within a year, after United Bank’s October 2024 flotation and temporary EGX approvals for six more state-owned enterprises.
The pipeline extends beyond those deals: officials are preparing about 10 state-owned petroleum companies and other strategic-sector firms for future listings.
The privatization drive follows Egypt’s March 2024 currency float; the IMF said in February that inflation had fallen from 38% in September 2023 to low double digits and reserves had risen to about $53 billion.
Egypt's privatization promises prosperity, but will it rescue the economy or merely delay a financial reckoning?
As Egypt sells key assets to Gulf nations, is it securing its future or auctioning its economic independence?
Egypt’s Privatization Drive: Achievements, IMF Mandates, and the Socio-Economic Stakes of a $12.2 Billion Reform
Overview
Egypt is making progress in its privatization drive by reducing the government's economic footprint and attracting investment, especially in the energy sector. The first phase of the oil sector’s IPO program has started, with three petroleum companies listed on the Egyptian Exchange. So far, the state has raised $5.9 billion by selling stakes in 19 companies, reaching nearly half of its $12.2 billion target for 2022–2025. A major $3.5 billion tourism investment deal with Qatar has also strengthened Egypt’s financial position, with the funds deposited at the Central Bank, signaling renewed investor confidence and supporting further reforms.