A conversation with Kouchouk: Finance Minister Ahmed Kouchouk dialed into Lamees El Hadidi’s El Sora (watch, runtime: 12:38) to talk privatization, foreign investment, and the broader economic outlook.

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Next divestment coming “before year end”: Kouchouk said the government is working to finalize a privatization transaction before the end of 2025, but did not disclose further details on the company or asset in question. We have an idea what transaction he is talking about, with sources previously telling us the government plans to list the Gabal El Zeit wind farm on the EGX before year-end.

An IMF mission is expected to arrive in Egypt soon to conduct the fifth and sixth reviews of our USD 8 bn loan program, Kouchouk said, expressing confidence that “there’s been strong progress across key macro indicators.” He added that “the government is fully focused on ensuring the two reviews are successful and we are well prepared.”

How soon is soon? Sources told us that we can expect the mission to land in town during the second half of the month. We have more on that in the news well, above.

Kouchouk listed a string of indicators he says show a real turnaround — foreign reserves have surpassed USD 50 bn mark for the very first time last month (more on that below), the EGX30 rose 2.18% to close at a record 40.8k points, and the Alam El Roum project, which signals a revival of FDI. “The government remains committed to economic reforms and to creating a stable, investment-friendly environment,” he said.

Speaking on the Alam El Roum project — Qatari Diar’s USD 29.7 bn mega urbandevelopment in the North Coast — Kouchouk said the value of the project lies in “long-term returns from tourism, real estate, and development — not just in the upfront land value or partnership stakes.”

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