Egypt: twenty state-owned companies will be listed on stock market in 2023

The Egyptian government has devised a plan to list about twenty state companies on the stock exchange, in a bid to increase the contribution of the private sector to the economy to 65% in 2025 against 30% in 2021. The announcement was made by Prime Minister, Mostafa Madbouly, on Wednesday February 1, 2023.

This strengthening of the private sector weight is part of the reform program presented by Egypt to the International Monetary Fund (IMF), which resulted in a 46-month arrangement worth about $3 billion in December 2022.