Back to the complete issue
Thursday, 26 December 2019

Egypt’s El Sisi revives talks about listing military companies

El Sisi signals that military companies on the EGX more than just an idea: Military-owned companies and assets will be listed on the EGX, President Abdel Fattah El Sisi said yesterday, bringing up the idea for the second time in less than two months. Military-owned companies going public would ensure the participation of all sectors of the economy, El Sisi said while speaking at the inauguration of a project to set up a livestock farm in Fayoum. The president said many investments by military-owned companies, including large infrastructure developments, are already open to private sector participation.

Background: The prospect of selling shares in military-owned companies was first brought up by the president in November. El Sisi stressed at the time that the army doesn’t undertake projects at the expense of the private sector and noted that the military and civilian businesses are actively working together on a series of strategic initiatives.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.