Egypt moves ahead with plans to float four military-affiliated firms on EGX

CAIRO - 14 May 2026: Prime Minister Mostafa Madbouly chaired a meeting Wednesday to follow up on the government’s state offerings program, including plans to list four military-affiliated companies on the Egyptian Exchange (EGX), as Egypt pushes forward with efforts to expand private sector participation in the economy.

According to a Cabinet statement, the companies include Wataniya Petroleum, Silo Foods, ChillOut, and the National Company for Roads Building and Development.

The meeting brought together Deputy Prime Minister for Economic Affairs Hussein Issa, Minister of Investment and Foreign Trade Mohamed Farid, Director General of the National Service Projects Organization Major General Magdy Anwar, Deputy Head of the Armed Forces Financial Affairs Authority Major General Ayman Matar, Assistant to the Prime Minister and CEO of the State-Owned Enterprises Unit Hashem El-Sayed, Acting Executive Director of Egypt’s Sovereign Fund Noha Khalil, alongside other officials.

The discussions also covered updates to the State Ownership Policy Document, with the government stressing that the revised strategy aims to strengthen the private sector’s role in supporting economic growth, creating jobs, and improving competitiveness.

Cabinet spokesperson Mohamed El-Homsani said the state offerings program is designed to maximize returns on public assets while ensuring sustainable economic benefits. He added that the policy document and IPO program have become central pillars in reshaping the state’s economic role and opening more sectors to private investment.

Officials further reviewed efforts to establish a comprehensive framework for the governance, classification, and management of state-owned companies through the Cabinet’s State-Owned Enterprises Unit, with a focus on improving efficiency and transparency.

The meeting also discussed steps being taken by Egypt’s Sovereign Fund regarding companies transferred under its umbrella as part of broader efforts to attract investment and optimize asset management.

Madbouly instructed officials to closely monitor the implementation process to ensure the planned offerings move forward in line with presidential directives.