Egypt’s National Investment Bank denies plans to exit Misr Cement Qena

Egypt’s state-owned National Investment Bank (NIB) denied media reports on Thursday that it plans to divest its full stake in Misr Cement Qena.

Ashraf Negm, the bank’s managing director, said in a statement that the claims were inaccurate, adding that the bank continues to manage its holdings with “transparency and clarity” as part of a broader government strategy to maximise returns on state assets.

“The National Investment Bank handles its contributions to companies and institutions in line with the updated strategy that aims to optimise asset value and support investment,” Negm said.

Attribution: Amwal Al Ghad English