{"id":686330,"date":"2026-02-11T00:00:00","date_gmt":"2026-02-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/govt-to-transfer-oversight-of-public-business-sector-companies-companies-to-sovereign-fund\/"},"modified":"2026-02-11T00:00:00","modified_gmt":"2026-02-11T00:00:00","slug":"govt-to-transfer-oversight-of-public-business-sector-companies-companies-to-sovereign-fund","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/govt-to-transfer-oversight-of-public-business-sector-companies-companies-to-sovereign-fund\/","title":{"rendered":"Gov\u2019t to transfer oversight of public business sector companies companies to Sovereign Fund"},"content":{"rendered":"

Good afternoon, friends, and happy almost-weekend.<\/strong> We\u2019ve got a packed issue for you today. At home, oversight of 110 companies is moving to Egypt\u2019s Sovereign Fund following the dissolution of the Public Business Sector Ministry. In the business press, financial firm stocks are in the red after another sell-off. <\/p>\n

Also in today\u2019s issue:<\/strong> We take a look at why Chinese SUVs might be the new luxury go-to, and dive into what might just be Maadi\u2019s hottest comedy night.<\/p>\n

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

\ud83d\udccd New cabinet, new oversight: <\/strong>Following the official dissolution of the ministry in yesterday\u2019s cabinet reshuffle, the government is set to transfer oversight of public business sector companies to Egypt\u2019s Sovereign Fund and the Cabinet-affiliated State-Owned Enterprises Oversight Unit, three government sources tell EnterpriseAM. The Sovereign Fund will assume responsibility for around 110 companies, either by attracting new capital or by integrating them into the government\u2019s IPO program, sources tell us.<\/p>\n

ALSO- Yields on domestic sovereign sukuk dropped on Tuesday to 20.8% on average<\/strong>, down from 21.5% in previous auctions, according to CBE data<\/a>. The dip prompted the Finance Ministry to accept EGP 6.06 bn in bids, exceeding its target of EGP 5 bn, a government source told EnterpriseAM. The uptick in demand is largely attributed to the recent upgrade of the secondary market for public debt \u2014 and its subsequent trading on the Egyptian Exchange (EGX) \u2014 significantly boosting liquidity. <\/p>\n

^^ Read more details on these stories and more in tomorrow\u2019s edition of EnterpriseAM.<\/p>\n

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We\u2019re hiring a technology reporter:<\/strong> EnterpriseAM is looking for a tech reporter to own the beat across Egypt, the UAE, Saudi Arabia, and beyond.<\/p>\n

This is a reporting job \u2014 not a desk job.<\/strong> You\u2019ll be working sources, breaking stories, and writing about trendlines (not just headlines) in our voice and with the authority our readers expect. AI and digital infrastructure are huge features of the beat, but our interests are broad: fintech, telecoms, regulation, SaaS, and the bajillion ways tech is reshaping how businesses operate across the region.<\/p>\n

We want someone who can pick up the phone or WhatsApp<\/strong>, get people talking, and turn what they say into stories that senior decision-makers need to read. We also expect you to attend industry events and maintain relationships with PR folks across the industry without selling out. If you\u2019ve got 2-3 years of experience and the hunger to build a beat from the ground up, we want to hear from you. We\u2019re also interested in hearing from veteran reporters. Spoken Arabic is strongly preferred.<\/p>\n

The role is based in Cairo<\/strong>, though we\u2019re open to remote work for the right candidate. If you\u2019re reading EnterpriseAM, you know what we\u2019re about: a no-BS daily news outlet that tells busy execs, investors, founders, and ambitious people what they need to know about the trends shaping business, economy, finance, regulation, and public policy across our region. We write stories that have impact \u2014 about issues that matter \u2014 for a global audience of decision-makers.<\/p>\n

Do we sound like the type of place where you want work?<\/strong> Send your CV and three clips to jobs@enterpriseamea.com<\/a>. Also, enclose a great cover letter that tells us who you are, what you do, and why you\u2019d be a great fit for this job.<\/p>\n

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

\ud83c\udf10 The launch of a new tax planning tool from tech platform Altruist \u2014 said to help advisors \u201ccreate fully personalized tax strategies for clients\u201d <\/strong>\u2014 shook up financial firms, as stocks wobbled amid investor concerns about potential AI disruption to advisory and banking services. LPL Financial tumbled 8.3%, Charles Schwab lost 7.4%, and Morgan Stanley dropped 2.4%. <\/p>\n

AND- BTC\u2019s downward trajectory continues<\/strong>, trading just below USD 66k this morning. Crypto markets are pressured by the volatility of US technology stocks and the latest sell-off.<\/p>\n

^^Read more on Bloomberg<\/a> and CNBC (here<\/a> and here<\/a>).<\/p>\n

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** CATCH UP QUICK<\/strong> on the top stories from today\u2019s EnterpriseAM:<\/strong><\/p>\n