The Egyptian government has announced a plan that will give investors the chance to secure a majority stake in some firms controlled by the National Service Projects Organization (NSPO), which is affiliated with the defence ministry. This new plan could be a response to El-Sisi’s previous suggestions that military-affiliated firms should go public. According to Ayman Soliman, Chief Executive Officer of Egypt’s sovereign wealth fund, the fund will help the NSPO select listed firms and market them to investors and possibly invest in them also. But, the El-Sisi administration has been able to engineer a turnaround of the economy through sweeping economic reforms introduced about four years ago. But foreign investors are still shying away from Egypt over a perceived lack of transparency on the part of the government.

Source: The North Africa Journal February 05, 2020 11:26 UTC