Prime Minister Madbouli Affirms Continuation of Government's IPO Agenda

egypt Wed, Feb. 28, 2024
Egypt’s Prime Minister Mostafa Madbouli said the government keeps on implementing the Initial Public Offering (IPO) program, which aims to empower the private sector and increase its contribution to different economic activities.

Madbouli made the remarks during a meeting that he held on Tuesday to consider Egyptian and global bids for acquiring the National Company for the Sale and Distribution of Petroleum Products (Watania), as part of Egypt's plan to offer a number of state-owned companies for sale.

The meeting was attended by Petroleum and Mineral Resources Minister Tareq el Molla and Planning and Economic Development Minister Hala el Saeed, as well as officials from their ministries, The Sovereign Fund of Egypt (TSFE) and the consulting firm, said Cabinet Spokesman Mohamed el Hommosani.

The prime minister explained that the State is serious about offering a number of companies affiliated to the Armed Forces.