Cairo: Prime Minister Moustafa Madbouly has issued directives for developing a precise executive plan for the State Ownership Policy Document to identify targeted sectors over the next three years, linking it closely to the State-Owned Companies Unit. Madbouly emphasized the need for companies already listed for public offerings on the stock exchange to complete their stake sales by the end of the year.
According to State Information Service Egypt, the Prime Minister also mandated the preparation of decisions by June 30 to transfer the affiliation of all companies previously under the Ministry of Public Business Sector, following the ministry’s abolition. These directives were issued during a meeting held on Thursday, May 21, 2026, at the government headquarters in the New Capital, aimed at reviewing the first quarterly report of the State-Owned Companies Unit at the Cabinet.
Deputy Prime Minister for Economic Affairs Hussein Eissa, Assistant Prime Minister and CEO of the State-Owned Companies Unit Hashem El-Sayed, and members of the unit attended the meeting. El-Sayed reviewed the status of the state-owned companies plan and presented the unit’s first quarterly report, detailing achievements from January to March 2026. He highlighted the unit’s objective to manage state ownership in companies efficiently through improved governance, investment portfolio restructuring, and enhanced private sector partnerships, thereby achieving financial sustainability and economic development for Egypt.
In line with directives from President Abdel Fattah El Sisi, El-Sayed noted efforts towards improving the management efficiency of state-owned assets and companies, alongside expanding private sector participation. These efforts led to significant progress, particularly in listing new companies on the Egyptian Exchange, which has been praised by international institutions for enhancing market transparency and creating an attractive investment environment.
El-Sayed added that the unit’s first-year action plan, effective from January 1, 2026, encompasses eight pillars aimed at organizing activities, improving implementation efficiency, and strengthening policy integration. Key elements of the plan include establishing a comprehensive database, restructuring investment portfolios, developing the capital market, and enhancing governance systems.
During the first quarter of 2026, the unit exceeded target timelines in several projects, notably in drafting organizational frameworks for managing state-owned companies. El-Sayed also highlighted the launch of ‘Rasheed,’ a national platform utilizing artificial intelligence to manage and analyze data from over 600 state-owned companies, with initial data entry and analysis completed for about 120 companies.
Regarding public offerings and ownership restructuring, El-Sayed reported progress in preparing companies for transfer to the Sovereign Fund of Egypt and listing on the Egyptian Exchange. As of March 2026, six companies were temporarily listed, with additional listings planned for the coming months.
The report also reviewed technical support to state-owned companies, including restructuring and operational efficiency improvements. El-Sayed noted that 15 requests to establish new companies were studied, with six approvals and ongoing evaluations for others. The unit aims to complete databases, strengthen centralized ownership management, and continue the public offerings program.
El-Sayed concluded by stating that the unit’s efforts have received international praise, reflecting confidence in Egypt’s economic reform and public asset management strategies, with special recognition from the European Commission within the EU-Egypt strategic partnership framework.