The Egyptian government has set its sights on raising $5 billion through the upcoming offering of power plants and state-owned enterprises, a move that aligns with the government’s initial public offering program, as revealed by a report from the Cabinet’s Information and Decision Support Center.
Scheduled to commence in October 2023 and continue until the close of June 2024, this initiative underscores Egypt’s push to expand its economic horizons through the strategic sale of stakes in various entities.
Ahram Online reported that the Egyptian strategy entails the partial privatization of key assets, including stakes in the Siemens Beni Suef power plant, Gabal El-Zeit wind power plant, and Zafarana wind farm. Additionally, ownership stakes in the military-owned companies Safi and Watanya are also slated for the offering.
