The Clap:
In an interview with Asharq Business, planning minister Hala El-Said revealed that the Sovereign Fund of Egypt’s (SFE) plans to attract new investments.
What:
According to El-Said, the SFE will hold a promotional round next month in the Gulf region, which includes meetings with other sovereign funds, financial institutions, and foreign investors, to showcase available investment opportunities.
So What:
The government is aiming to exit the many sectors including pharmaceuticals, chemicals, and construction. It also wants to reduce its investments in some sectors like electric power stations.
Now What:
Back in March 2023, Egypt announced plans to offer shares in over 40 companies spread over 18 sectors, by March 2024. The date has been extended to December 2024.
