{"id":615162,"date":"2024-02-13T00:00:00","date_gmt":"2024-02-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/13\/egypt-targets-usd-6-5-bn-from-the-privatization-program-in-2024-maait\/"},"modified":"2024-02-13T00:00:00","modified_gmt":"2024-02-13T00:00:00","slug":"egypt-targets-usd-6-5-bn-from-the-privatization-program-in-2024-maait","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/13\/egypt-targets-usd-6-5-bn-from-the-privatization-program-in-2024-maait\/","title":{"rendered":"Egypt targets USD 6.5 bn from the privatization program in 2024- Maait"},"content":{"rendered":"

Good afternoon ladies and gentlemen, and happy hump day.<\/strong> We\u2019re not sure about you, but this week feels to us like it\u2019s moving particularly slowly, even if the news cycle isn\u2019t. <\/p>\n

THE BIG STORY TODAY<\/strong><\/p>\n

New privatization program targets just in: <\/strong>Egypt aims to raise some USD 6.5 bn through the privatization of state-owned companies and assets by the end of the year, Finance Minister Mohamed Maait said at the Annual Arab Fiscal Forum in Dubai, according to a ministry statement<\/a>. The figure will include sales made only throughout 2024, a government source confirmed to Enterprise.<\/p>\n

A handful of transactions might be around the corner:<\/strong>The long-delayed stake sale of fuel retailer Wataniya<\/a> could wrap up this month, the Gabal El Zeit and Zafarana wind farms<\/a> could see stake sales before the end of March, and the sale of a c. 70% stake<\/a> in the Siemens-built Beni Suef power plant could go through by June. The government is also said to be close to finalizing stake sales in two state-owned banks<\/a>, with Banque du Caire<\/a> and United Bank<\/a> being likely targets.<\/p>\n

THE BIG STORY ABROAD<\/strong><\/p>\n

It\u2019s a mixed bag of headlines in the international press this afternoon but the US Senate\u2019s<\/strong> aid package vote is getting some ink. <\/strong>The Senate proposed a USD 95 bn aid package for Israel, Ukraine, and other allies but House Speaker Mike Johnson publicly rejected it ahead of the vote for not including border control policy. Republicans are mostly against providing Ukraine with aid and although the Senate can get Democrats to push it through with a discharge petition, many of them oppose Israel\u2019s actions thus opposing sending aid. Voting for the funds that the Pentagon requested back in October will take place on Monday. (Washington Post<\/a> | Associated Press<\/a>)<\/p>\n

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