Cairo: Prime Minister Mostafa Madbouly stated that the government is closely monitoring progress in its program to divest stakes in several state-owned companies as part of the second edition of the State Ownership Policy (SOP) document for 2026-2030. Chairing a meeting in the New Capital, Madbouly highlighted that the government is advancing the state asset divestment program to boost private sector participation in the economy, following directives from the political leadership.

According to State Information Service Egypt, the program aims to maximize returns on state assets, improve their management, attract more domestic and foreign investments, and strengthen the business community's confidence in the Egyptian economy. Madbouly emphasized the government's intent to grant the private sector a larger role in stimulating economic development, boosting production and employment, and improving the competitiveness of the Egyptian economy.

Madbouly also pointed out the ongoing coordination among relevant authorities to ensure the government's initial public offering (IPO) program proceeds according to schedule and yields the highest possible economic returns. He mentioned that the private sector's share in total investments has risen to more than 56.5 percent over the past three years and is likely to surpass the government's target of 65 percent within the next two years.

Regarding the divestment program, Madbouly noted that 20 of the 30 companies announced under the government's IPO program have now secured temporary listings on the Egyptian Exchange. This includes 10 companies affiliated with the petroleum sector and 10 under the public business sector.