• Egypt’s Sovereign Fund signed agreements with the Armed Forces’ NSPO to manage and restructure the listing of affiliated companies.
• The agreements pertain to the restructuring and management of the public offering of a group of companies affiliated to the NSPO.
• The listings will be overseen by local and international consultants under a framework agreement between the NSPO and Sovereign Fund.

NSPO

What happened? Dr Mostafa Madbouly witnessed the signing ceremony of several cooperation agreements between The Sovereign Fund of Egypt and the National Service Projects Organization (NSPO) of the Armed Forces. 

The ceremony was attended by Eng. Hassan El-Khatib, Minister of Investment and Foreign Trade.

The agreements pertain to the restructuring and management of the public offering of companies affiliated with the NSPO.

Which companies will be listed? The companies to be listed are  affiliated to the NSPO of the Armed Forces. These include Chillout, Silo Egypt for Food Industries, Safi, National Roads Company, and the National Petroleum Company.

Privatization

Management These offerings are being prepared and managed through a consortium of specialized local and international consultancy firms. Moreover, this will take place under the framework agreement signed between the NSPO and the Sovereign Fund of Egypt for Investment and Development. 

The Fund will be responsible for the restructuring and management of the offering of companies owned by the Armed Forces.

Timeline  According to the agreement, the listing of the companies are scheduled to go into effect during 2025, while the remaining are to be completed in 2026.

These agreements come amid the measures being taken by state authorities to implement the government’s privatization program. This program involves offering a number of state-owned companies to private sector institutions for their management and operation. This is in line with the State Ownership Policy Document adopted by the government.