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2026-07-26 19:26 UTC → 2026-07-29 05:05 UTC ·
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Egypt oil sector privatisation drive expands with IPO training
In late June 2026 Egypt began Following the first phase late‑June 2026 listings of its oil‑sector privatisation by moving three state‑owned petroleum firms—ENPPI, ELAB and PMS—to oil firms (ENPPI, ELAB, PMS) on the Egyptian Exchange. The listings were presented as a way to maximise state‑asset valuations, broaden ownership and draw private‑sector participation, linked to IMF‑backed reforms and unlocking about $1.6 billion of loan financing. On 26 July 2026 the Exchange, Egypt’s Financial Regulatory Authority inaugurated (FRA) launched a nationwide IPO‑readiness programme for state‑owned companies slated for EGX listings. on 26 July. The launch was initiative, led by FRA Chairman Islam Azzam and attended by Investment Minister Mohamed Farid, Assistant Prime Minister and head of the State‑Owned Companies Unit Hisham El‑Sayed, head Hashim El Sayed, and EGX Chairman Omar Redwan and senior officials. Training is delivered through the Financial Services Institute and the Egyptian Institute of Directors and comprises Redwan, offers seven core modules covering the capital‑market legislative framework, provisional and final legislation, listing procedures, financial‑accounting preparedness, readiness, corporate‑governance and sustainability, disclosure and prospectus preparation, public‑offering mechanisms and post‑listing compliance. The Training is delivered through the Financial Services Institute and the Egyptian Institute of Directors, with the first round involved involving 14 of the 20 targeted state‑owned provisional EGX‑listed state firms; the FRA noted it had run more than 90 training programmes in the prior year, reaching thousands of financial‑sector professionals. On 27 July, Assistant Prime Minister Hashim El Sayed announced that the 20 temporarily listed firms with temporary EGX listings, with later cohorts will be followed by ten additional companies, broadening privatisation to include companies from petroleum, mining, pharmaceuticals, tourism, contracting, education sectors such as chemicals, tourism and industry. The programme seeks textiles alongside petroleum. He connected the effort to raise executive competence, improve financial literacy, promote best‑practice governance a wider strategy of mobilising private‑sector capital across Africa, citing $900 billion in mixed‑financing agreements with partners in Côte d’Ivoire and support Egypt’s broader privatisation agenda, complementing the earlier oil‑sector listings European sovereign‑wealth funds and the goal development of achieving over 65 % private‑sector participation by 2030. intra‑African trade corridors. Together, the listings and the listings, training initiative programme and cross‑regional financing push aim to deepen Egypt’s capital market, boost investor confidence improve corporate governance, and attract both domestic and foreign capital investment as part of the government’s a long‑term privatisation strategy. agenda targeting over 65 % private‑sector participation by 2030.