El Sisi requests concrete timeline for IPO of state-owned businesses. President Abdel Fattah El Sisi instructed the government to set a concrete timeline for the upcoming IPO of state-owned enterprises. El Sisi ordered the program expedited during a meeting with Prime Minister Sherif Ismail, Finance Minister Amr El Garhy, and CBE Governor Tarek Amer. The sale of Banque du Caire is expected to take place “sometime in 1Q17,” according to Deputy Finance Minister Ahmed Kouchouk. Investment Minister Dalia Khorshid had suggested the listing of state energy companies would get underway sometime in December or January.

The meeting also looked act possible partnerships with the private sector on projects that would reduce Egypt’s reliance on imports, said Ittihadiya spokesperson Alaa Youssef. El Sisi also noted that the banking sector had attracted new liquidity after the float of the EGP, adding that the state is committed to supporting the industry, Al Mal reports.