Good afternoon, folks, and happy hump day. Today’s issue brings news of a rekindled privatization push, with plans to list shares in five military-affiliated companies as early as next month. Also today: We dig into Cairo’s thriving pop-up dining scene.

THE BIG STORY TODAY-

📍 The Madbouly government is preparing to end its privatization hiatus next month, with a government source telling EnterpriseAM that the Sovereign Fund of Egypt (SFE) is finalizing a timeline to offer shares in five companies affiliated with the National Service Projects Organization (NSPO). The move is the first step in a much larger consolidation that could see the number of state-owned companies transferred to the SFE for restructuring and eventual sale rise to 60.

At least two of these companies are expected to make their debut on the EGX as early as February, with the remainder offered through strategic tenders or subsequent listings, we were told. The restart will focus on the most market-ready assets in the military-affiliated portfolio and include fuel retailers Wataniya and Chill Out, bottled water company Safi, food processor Silo Foods, and also Chill Out’s parent company National Company of Roads.

THE BIG STORY ABROAD-

🌐 Global central banks have issued a joint statement declaring full support for US Federal Reserve chair Jerome Powell following the Trump administration’s threat of criminal indictment. In the statement, nine central bank governors attest to Powell’s “unwavering commitment to the public interest.” The statement also added: “The independence of central banks is a cornerstone of price, financial and economic stability in the interest of the citizens that we serve.”

^^Read more on: The Guardian.

ALSO- Oil prices have reached peak numbers since November of last year after US President Donald Trump announced on Monday that any country engaging in business with Iran will face a 25% tariff, effective immediately, “on any and all business being done with the United States of America.” This comes as an Iranian official reports about 2k deaths in protests.

^^Read more on: Bloomberg, CNBC, and Reuters.

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

  • The Finance Ministry will unveil its new public debt management strategy later this month. The rollout comes after a year-long delay triggered by volatility in global debt markets. The strategy will focus on long-term structural debt reduction and helping the government diversify its financing sources in coordination with international advisors;
  • Egyptian-regasified natural gas has started heading to Lebanon and Syria under separate agreements signed with both sides over the past few weeks. We’re delivering some 50 mcf / d of gas to each of the countries through the Arab Gas Pipeline and supplies will double during the winter months;
  • Hisham Badawi was elected House speaker yesterday in the chamber’s inaugural session. Badawi secured 521 votes out of 570 cast, defeating Mahmoud Al Imam for the position.

☁️ TOMORROW’S WEATHER- We’re in for a cloudy day in Cairo tomorrow, with the mercury set for a high of 20°C and a low of 12°C, according to our favorite weather app.

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