The companies are the National Company for Petroleum Products Marketing and Distribution (Wataniya), the food industry company Silo Foods, the retail and fuel station chain ChillOut, and the National Company for Roads Building and Development, Elhomosany said. No timeline has been announced yet for the listings
According to Elhomosany, this announcement was made by Prime Minister Mostafa Madbouly during a meeting with several governmental and military officials to follow up on the status of several state-owned firms.
The plan to list four companies affiliated with the armed forces was first announced in December 2024. It aims to increase the value of state assets, ensure sustainable returns from the offerings, and support the national economy by raising capital.
In April 2025, the Sovereign Fund of Egypt (TSFE) and the National Service Projects Organization (NSPO) signed agreements with local and international consulting firms to restructure the companies ahead of the IPO.
The NSPO is the economic arm of the armed forces. It owns and manages several companies, including the four planned for listing on the EGX.
The IPO programme initially targeted 35 government companies when it was launched in 2023, with plans to add 10 more. However, no companies have yet been listed on the EGX. The goal was to raise $5 billion under the State Ownership Policy Document.
Elhomosany also said the meeting reviewed updates and possible revisions to the State Ownership Policy Document. The aim is to improve the business environment, increase competitiveness, strengthen the private sector’s role in Egypt, and support sustainable economic growth and job creation.
The State-Owned Companies Unit will also prepare a national programme to document and classify state-owned companies. This is intended to improve asset management, increase efficiency, strengthen economic oversight, boost investor confidence, and attract more investment.
The unit is responsible for evaluating the performance of state-owned and state-backed companies, regulating and restructuring them under the State Ownership Policy Document, and identifying those that need financial or managerial support through the TSFE.
At the end of 2025, Egypt said it plans to list more state-run companies on the EGX in 2026. It is also considering legal changes to modernize financial markets, increase market capitalization, and improve trading efficiency.
The State Ownership Policy Document and the IPO programme are part of Egypt’s commitments to the International Monetary Fund (IMF) under its $8 billion Extended Fund Facility (EFF) programme. The seventh review is expected to begin soon and conclude by 15 June, while the programme is set to end in mid-December 2026.
This comes as regional conflicts continue to weigh on the economy. The IMF has warned that risks remain despite projected GDP growth of 4.7% in the fiscal year 2025/2026, which ends on 30 June 2026.
The risks are linked to high financing and energy needs that could weaken fiscal stability and debt conditions if not addressed.
At the same time, credit rating agencies have noted some positive developments in Egypt’s investment climate. S&P Global Ratings maintained Egypt’s long- and short-term sovereign credit ratings at ‘B/B’ with a stable outlook. Moody’s also kept its outlook positive while affirming Egypt’s rating at Caa1.
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