Egypt expands ownership base of state-owned companies

The Egyptian government is actively working to accelerate the programme that expands the ownership of state-owned companies via the stock market listing, Egyptian prime minister Dr. Mostafa Madbouly stated on Sunday, as reported by the Egyptian Cabinet.

Recent trends show a significant improvement in trading values, market capitalisation, and transaction volume. This restriction greatly affects not only the access of government entities to various financing types needed for expansion but also boosts governance, disclosure, and transparency levels, Madbouly stated.

He emphasised the benefits of listing state-owned companies on the stock exchange and their participation in sustainability and climate change initiatives highlighting the urgency of enacting the unified insurance law, which is crucial for the growth of Egypt’s insurance sector and for bolstering the capital base of insurance companies.

During his meeting with the Chairman of the Financial Regulatory Authority (FRA), Dr. Mohamed Farid, Madbouly discussed the authority’s efforts to develop the non-banking financial sector with the aim of enhancing its crucial role in the national economy.

This sector, abundant with potential and high-tech resources, provides a range of innovative financial, investment, and insurance solutions that empower various economic entities to secure the necessary funding for their growth, expansion, and initiation, thereby improving employment and income metrics and benefiting the national economy.