Egypt signs eFinance deal to host AI-powered state ownership platform

Egypt’s State Ownership Enterprises Unit signed a cooperation agreement with eFinance on Wednesday to host and operate the secure infrastructure of the AI-powered Rashid digital platform, supporting the government’s digital transformation efforts and modernisation of public-sector technology infrastructure.

The unit, which is affiliated with the Prime Minister’s Office, oversees implementation of Egypt’s State Ownership Policy and the management of the state’s portfolio of companies.

Under the agreement, eFinance will provide secure hosting infrastructure accredited by regulatory authorities and international organisations to support the platform’s artificial intelligence applications, while safeguarding government data and ensuring operational continuity.

The agreement aims to expand the use of secure digital solutions for critical government systems, improve oversight of state-owned companies, and strengthen the quality and reliability of data used in government decision-making.

Developed under Law No. 170 of 2025, the Rashid Platform uses artificial intelligence to identify, classify, analyse, and monitor the financial and operational performance of state-owned companies and firms in which the state holds stakes, while supporting governance and implementation of Egypt’s State Ownership Policy.

The agreement also provides the computing capacity, secure storage, and server infrastructure required to operate the platform’s artificial intelligence applications efficiently and securely.

The State Ownership Enterprises Unit said it would continue developing digital tools to improve oversight of state-owned companies, support implementation of the State Ownership Policy Document, and enhance the efficiency and returns of state assets.

Attribution: Amwal Al Ghad English