Egyptian Cabinet proposes providing unique digital IDs for properties

CAIRO - 10 August 2023: In a statement, the Egyptian Cabinet announced its approval of a draft legislation aimed at providing digital IDs to properties. This initiative aims to enhance efficiency within public enterprises by facilitating the sale of unprofitable assets, thereby reducing financial losses.

In addition to that, the Cabinet meeting reached an agreement on the country's participation in two newly established Africa-wide development finance institutions. Moreover, they decided to extend the suspension of the 'mud tax' for an additional year.

According to the statement, the Cabinet has endorsed a proposed legislation that aims to assign a distinct digital identification (ID) to each property within a centralized government database. As part of this initiative, the government intends to provide ID cards or plates for individual properties, and strict penalties will be imposed on any individual who unlawfully removes or tampers with these ID plates. This measure is a crucial component of the government's ongoing efforts to establish a comprehensive property inventory and effectively combat unauthorized construction activities.

Furthermore, the government has authorized two presidential decrees that enable Egypt to become a member of the African Development Bank's (AfDB) Africa50 for Project Development and Africa50 for Project Financing. The objective of the project development aspect is to invest capital in the initial phases of projects. On the other hand, the project financing aspect aims to enhance infrastructure development in African nations by mobilizing funds from various sources.