{"id":661680,"date":"2025-03-03T00:00:00","date_gmt":"2025-03-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/03\/fresh-details-on-our-state-enterprise-shakeup\/"},"modified":"2025-03-03T00:00:00","modified_gmt":"2025-03-03T00:00:00","slug":"fresh-details-on-our-state-enterprise-shakeup","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/03\/fresh-details-on-our-state-enterprise-shakeup\/","title":{"rendered":"Fresh details on our state enterprise shakeup"},"content":{"rendered":"

Hello folks, and happy Monday.<\/strong> We have a brisk issue for you this morning, so without further ado, let\u2019s jump into it.<\/p>\n

THE BIG STORY TODAY<\/p>\n

Fresh details on state enterprises\u2019<\/strong> move to the SFE: <\/strong>The first phase of the Madbouly government\u2019s plan to transfer all public enterprises to the Sovereign Fund of Egypt (SFE)<\/a> will see some 370 firms out of an estimated 709 brought under the fund\u2019s umbrella, a senior government source told EnterpriseAM, citing a recent tally of state firms. The SFE is currently looking into the companies\u2019 ownership structures as it prepares to select the top performers for the strategy\u2019s first phase.<\/p>\n

The first phase will target firms<\/strong> that were profitable in FY 2024-25 and have simple <\/strong>ownership structures<\/strong> \u2014 avoiding the many companies whose ownership is tangled between government agencies and banks, or whose assets are tied up in complex arrangements. The fund may hold off on selecting the companies until the end of the current fiscal year, our source noted, to confirm the firms\u2019 profitability and account for the full impact of the EGP float on their finances.<\/p>\n

Manufacturers and real estate firms top the agenda: <\/strong>The SFE will start by taking over administration of state-owned industrial players, with a particular focus on primary manufacturers that support other industries, given that their production capabilities can be leveraged to attract investments needed in the strategy\u2019s early stages, our source explained. Real estate companies will take second priority after industry.<\/p>\n

Further down the line:<\/strong> The 138 state-owned companies operating at a loss will be targeted in a later stage that might involve repurposing their assets or changing their line of business, the source said, adding that the studies needed to establish how this process will take place will take time.<\/p>\n

THE BIG STORY ABROAD<\/p>\n

It\u2019s a light newsday for the int\u2019l presses<\/strong>, with headlines continuing to be dominated by the Russia-Ukraine war and last night\u2019s Oscars. <\/p>\n

French President Emmanuel Macron has presented a supposedly joint British-French <\/strong>proposal for a one-month ceasefire between Russia and Ukraine<\/strong> that would halt all air, sea, and energy infrastructure attacks but not on-ground fighting, Reuters<\/a> reports. The proposal \u2014 which would see European troops deployed to Ukraine in a later, second phase \u2014 follows a meeting between European leaders yesterday in London aimed at crafting a ceasefire proposal to present to the US. The move comes after a tense and acrimonious meeting between Ukrainian President Volodymyr Zelenskiy and US President Donald Trump in Washington on Friday that saw Trump refuse to offer the Ukrainian president requested security guarantees. <\/p>\n

The UK, for its part, has distanced itself from the proposal<\/strong>, with UK Armed Forces Minister Luke Pollard saying, \u201cThat's not a plan that we currently recognize,\u201d according to the newswire. \"Certainly there are a number of different options being discussed privately between the UK, France and our allies at the moment,\u201d Pollard reportedly told the BBC. \u201cIt's probably not right for me \u2026 to comment on each individual option as they occur.\u201d<\/p>\n

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