The government will finalize a timeline to exit or IPO at least 20 state-owned enterprises immediately after the Eid El Fitr break — in true Egyptian fashion — a senior government official tells EnterpriseAM. The goal is to generate USD 3-4 bn in immediate inflows by year-end, part of a larger USD 6 bn target for the upcoming fiscal year.

Why it matters: With Suez Canal revenues squeezed by regional tensions and hot money remaining flighty, the state needs these inflows to pad FX reserves and meet the final requirements of its IMF reform program, which wraps up in December.

The lineup: Included in the list of state-owned assets set to head to the privatization block are Banque du Caire and Alex Bank, along with the National Service Projects Organization’s Safi, Wataniya, Silo Foods, and Chillout. The program will also see stakes in Misr Pharma, CID, Midor, and Amal Alsharif Plastics offered up, while discussions are underway to pencil Egyptian Ferroalloys and El Nasr Mining in the planned lineup.

We’re seeing a tactical shift from strategic sales to public listings. The program now favors offering 10-40% stakes on the EGX, limiting the number of total buyouts by strategic investors. While listings are slated for 2Q, the actual go-signal for trading will be left to individual investment banks to time based on market appetite.

Policymakers are prioritizing companies with at least EGP 100 mn in paid-in capital, a 5% NP margin, and three years of audited growth, we’re told. By forgoing offering state-owned enterprises with little appeal and leading with already well-performing companies, the government is looking to offload assets only when it thinks they’re attractive enough to bring in meaningful returns.

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