Arab Finance: Egypt is targeting three initial public offerings (IPOs) before the end of the current fiscal year (FY) 2025/2026, Minister of Finance, Ahmed Kouchouk, announced.

The minister said the government has responded swiftly to ongoing exceptional challenges to ensure the continuity of economic activity and the availability of goods and supplies, noting that this approach has been positively received by institutions, credit rating agencies, and investors.

Speaking during a press conference on the new FY’s budget, Kouchouk said the government is continuing its economic reform program to stimulate investment, production, exports, and growth. He added that authorities are working to maintain the pace of reforms and IPOs while increasing private sector participation in economic activity.

The minister said the government is also advancing public-private partnership (PPP) projects, with more than 20 initiatives currently in the pipeline aimed at creating attractive opportunities for investment inflows.

On the energy front, Kouchouk noted that EGP 120 billion has been allocated in the upcoming budget to support the sector, with a focus on improving energy efficiency, expanding the use of renewable energy sources, and strengthening transmission and distribution networks. He added that funding has also been earmarked to accelerate work on the Dabaa Nuclear Power Plant in line with its targeted timeline.