Egypt Approves Four Companies for Privatization by 2027

The Egyptian government has approved four state-owned companies for privatization, which includes three companies from the petroleum sector: the Egyptian Petroleum Chemical Industry (ENPPI), the Egyptian Linear Alkyl Benzene Company (ELAB), and the Petroleum Marine Services. The fourth company is involved in tourism development, specifically Maamoura Reconstruction.

This decision is part of a broader divestment program aimed at listing these companies on the stock exchange by May 2027. The Egyptian Petroleum Ministry announced that the total capital of the three petroleum sector companies amounts to millions.

This initiative aligns with Egypt's previous plans to list companies on the stock exchange as part of an agreement with the International Monetary Fund (IMF). The Minister of Investment, Mohan Farid Saleh, stated that the government aims to achieve or even surpass the targets set under the IMF program, which includes addressing the country's fiscal deficit and achieving a primary surplus.