{"id":605523,"date":"2023-09-01T00:00:00","date_gmt":"2023-09-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/01\/privatization-galore-govt-plans-to-bring-in-usd-5-bn-in-investments-by-july-2024-fresh-batch-of-investment-incentives\/"},"modified":"2023-09-01T00:00:00","modified_gmt":"2023-09-01T00:00:00","slug":"privatization-galore-govt-plans-to-bring-in-usd-5-bn-in-investments-by-july-2024-fresh-batch-of-investment-incentives","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/01\/privatization-galore-govt-plans-to-bring-in-usd-5-bn-in-investments-by-july-2024-fresh-batch-of-investment-incentives\/","title":{"rendered":"Privatization galore: Gov\u2019t plans to bring in USD 5 bn in investments by July 2024 + Fresh batch of investment incentives"},"content":{"rendered":"

Good morning, and HAPPY FRIDAY. <\/strong>If you\u2019re squeezing in a few last days in Sahel, we hope you end the summer season with a wonderful weekend as we ease into a fresh month. For those of you with little (and not so little ones) going back to school or university, we wish you a restful weekend. <\/p>\n

Speaking of the back-to-school grind: <\/strong> If you \u2014 like many parents \u2014 like to keep your kids busy with after school activities but are getting bored of the usual suspects (el nady, we\u2019re looking at you), you\u2019ve come to the right place. <\/p>\n

Look no further than our Enterprise Guide this week, where we look at the best spots to learn <\/strong> (or get better at) some art. <\/strong>We have the rundown on all the places where children and teens can drop their phones and iPads, and pick up a brush, paper, or some clay to cultivate their imagination, focus, and sensory skills. <\/p>\n

Enterprise Weekend comes out each Friday at 9:00am CLT <\/strong> . <\/strong> We\u2019ll be back on Sunday at 6am with EnterpriseAM. Until then: Enjoy the weekend.<\/p>\n

LAST WEEK IN 3 MINS- <\/strong><\/p>\n

WHAT A WEEK- <\/strong> It\u2019s been a privatization- and investment-heavy news cycle over the past few days with details from the government\u2019s revised privatization policy document emerging. <\/p>\n

PRIVATIZATION WATCH- <\/strong><\/p>\n

#1- <\/strong> The government is aiming to bring in USD 5 bn in investments through the <\/strong> privatization of state-owned companies and assets <\/strong> in the nine months between October 2023 and June 2024, according to an updated state ownership policy document leaked this week<\/a>. <\/p>\n

There are a handful of key changes in store: <\/strong> The original list of 32 state-owned companies being prepped for sale has been expanded to a total of 35 that will include Telecom Egypt, Eastern Company, and Al Ezz Dekheila. The government has also extended the deadline for delivering on its targets until the end of June 2024, instead of an initial deadline slated for the end of 1Q 2024.<\/p>\n

#2- Some more details on one of three Siemens power plants set for sale\u2026 <\/strong> The government is looking to sell<\/a> a c. 70% stake in the 4.8-GW Beni Suef combined-cycle power plant, which the document assigned an \u201cindicative\u201d value of USD 1.4-1.9 bn. <\/p>\n

#3- \u2026and more investors could get a piece of the Zafarana wind farm\u2026: <\/strong> A further stake will be offered<\/a> to international investors in addition to the portion that the government has in principle agreed to sell to multinational shipping giant Maersk. <\/p>\n

#4- \u2026and Helwan Fertilizers: <\/strong> The government is looking to sell up to 40%<\/a> of the state-owned Helwan Fertilizers Company to a strategic investor, government sources confirmed to us earlier this week. Local media had previously put the stake on offer at 20%.<\/p>\n

#5- Taqa Arabia wants a stake in Wataniya: <\/strong> Qalaa Holdings\u2019 Taqa Arabia submitted a<\/a> non-binding offer<\/a> to buy an unspecified stake in fuel retailer Wataniya. <\/p>\n

#6- \u2026 while two unnamed investors are eyeing stakes in bottled drinks firm Safi. <\/strong>The government expects<\/a> to reach an agreement on the sale by December.<\/p>\n

#7- There were also some rumors <\/strong>put to rest<\/a><\/strong> this week: <\/strong><\/p>\n