Prime Minister Mostafa Madbouly has confirmed that the government has no plans to return to electricity load shedding, despite the significant financial burdens it would impose, emphasizing that such measures are not part of the government’s future scenario.

The first phase of the electrical interconnection project between Egypt and Saudi Arabia will be activated in June with a capacity of 1,500 megawatts.

Three new companies, including Bonyan, have recently requested to list their shares on the Egyptian Exchange (EGX)

The Egyptian Exchange (EGX) is set to see two new offerings this year under the state’s initial public offering (IPO) program.

Egypt expects to raise between $2 billion and $2.5 billion from the resumption of the state’s initial public offering (IPO) program during the current fiscal year (FY) 2024/2025.

Egypt is expected to resume its initial public offering (IPO) program by early 2025.

The International Finance Corporations (IFC) has completed the first phase of submitting its recommendations to the Egyptian government over the initial public offering (IPO) program.

The Egyptian government will include 61 additional state-owned companies to its initial public offering (IPO) program's list, with stakes set to be offered on the Egyptian Exchange (EGX), to strategic investors, or a mix of both.

The European Bank for Reconstruction and Development (EBRD) is seeking to acquire stakes in a number of Egyptian companies under the state initial public offerings (IPO) program, EBRD’s Managing Director for the Southern and Eastern Mediterranean (SEMED) region Heike Harmgart said.

Egypt is planning to raise about $4 to $5 billion in proceeds from selling state-run assets under its initial public offering (IPO) program until June 2024.

Egypt is working on the preparation of around 50 state-owned firms to be offered under its initial public offering (IPO) program, in collaboration with World Bank’s International Finance Corporation (IFC).

Some Emirati companies are close to acquiring stakes of not less than 20% to 25% in the military-owned National Company for Producing and Bottling Water (Safi) and the fuel retailer Wataniya.

Egypt is considering floating additional shares from both Abu Qir Fertilizers and Chemicals Industries Company (ABUK) and Sidi Kerir Petrochemicals Company (SIDPEC) (SKPC) when resuming its governmental initial public offering program, Al Mal News reported on May 1st, citing unnamed sources familiar with the matter.

In February, Egypt announced that it is looking forward to offering shares in up to 32 companies for sale on the Egyptian Exchange (EGX), to strategic investors, or a mix of both.

The Egyptian Cabinet announced, on February 8th, 2023, that it will offer 32 state-owned companies and banks for sale through Initial Public Offerings (IPOs) or to strategic investors; this process will take place within a year starting from Q1 2023 to Q1 2024.

Although the company is owned by the private sector, it seeks to take advantage of the momentum that the Egyptian market may witness after resuming the governmental offerings program.