Prime Minister Mostafa Madbouly revealed that the government has secured USD 5.6 billion from the partial and full sale of stakes in 14 state-owned companies.

Collaborating with the International Finance Corporation (IFC), the government has conducted preliminary studies on 50 state-owned companies in preparation for future offerings. The IFC has identified four priority sectors, including the management and operation of state-owned airports, telecommunications, banks, and insurance.

Telecommunication projects such as broadcasting towers and data centers are among the initiatives being considered for investment and offering. In August, the Egyptian government unveiled plans to attract USD 5 billion from the offering of power plants and state-owned companies between October 2023 and June 2024.

Currently, the government aims to offer stakes in 35 state-owned companies to strategic investors by the end of June 2024, in line with the State Ownership Policy Document. The initial list of 32 companies was released in February, with three additional companies added later in 2023: Eastern Company, Al Ezz Dekheila, and Telecom Egypt.

Additionally, Prime Minister Madbouly announced plans to generate USD 191 billion in annual US dollar revenues by 2026, a significant increase from the current figure of USD 70 billion.