Egypt plans sovereign fund for state companies

Cairo_pyramidsThe Egyptian government is considering establishing a sovereign wealth fund to manage state companies that are due to float on the national stock exchange. The listings, which could feature eight to ten state companies, are part of a drive to attract more foreign investment in the wake of recent economic reforms, streamlined business rules and a devalued currency.   Prior to the listings, the Egyptian government is hoping to raise between $2-$3 billion by selling off stakes in some of these companies. The sovereign fund plan was disclosed by minister for public enterprise Khaled Badawi who was speaking at a conference in Dubai earlier this month, as reported by Reuters. The idea is currently being reviewed by cabinet, said the minister, and is in its early stages and pending a new law to allow the sales of the state assets. ©2018 funds global mena

Executive Interviews

INTERVIEW: Totally mega

Jun 13, 2018

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

INTERVIEW: Protecting the investment

Nov 23, 2017

Rasmala’s trade finance fund recently passed $100 million in assets. Doug Bitcon, head of credit strategies, explains why he has to be hands-on.


MENA ROUNDTABLE: ‘The story is about reforms’

Jun 13, 2018

Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.


Jun 13, 2018

Our panellists tell us that instead of launching competing national projects, African countries should work together for the sake of a bigger capital market. Chaired by George Mitton in Cape Town.