Banque Misr has conducted the country’s first digital public auction to sell real estate assets.

Egypt is close to finalizing the sale of its remaining stake in ALEXBANK to Italy's Intesa Sanpaolo SpA, marking the first significant state asset sale since the Egyptian pound was devalued in March.

The value of the Egyptian state-owned Administrative Capital for Urban Development Company’s (ACUD) assets has reached EGP 1 trillion so far, driving the country’s economy.

Minister of Planning and Economic Development and Chairperson of the Sovereign Fund of Egypt (TSFE) Hala Elsaid held a meeting with Minister of Culture Nevine El-Kelany to discuss proposed strategies for maximizing the utilization of assets owned by the Ministry of Culture.

Faisal Islamic Bank of Egypt (FAIT) reported a 51.4% year-on-year (YoY) surge in net profit for the first nine months of 2023.

Egypt has signed contracts worth a total of $1.9 billion with the private sector to sell state-owned assets under its initial public offering (IPO) program.

The Egyptian government is considering offering a number of state-owned assets in Cairo and Giza that overlook the Nile River for investment to ensure optimal exploitation of them.

This decline came as a result of debt maturing and importers clearing backlogs from ports.

Egypt will value the state assets offered for sale in US dollars or Egyptian pounds.

Egypt’s net foreign assets (NFAs) climbed by EGP 42.28 billion in December, marking a growth for the second consecutive month, Reuters reported on January 31st, citing data by the Central Bank of Egypt (CBE).