Egypt’s new committee aims to raise up to LE25 billion annually from state asset divestment

Egypt aims to establish an asset liquidation committee under the Ministry of Finance with the goal of generating 20 to 25 billion Egyptian pounds annually for the state treasury from divestment proceeds over the coming years, according to the government’s new three-year plan, the Masrawy website reported.

The government had divested state-owned assets worth about $5.6 billion two years ago since launching the initial public offerings (IPOs) program in March 2023, as previously stated by former Finance Minister Mohamed Maait in press statements.

He added that the government is targeting revenues of up to $6.5 billion from the government IPO program by the end of 2024, according to a previous ministerial statement.