Egypt’s Economic Pivot Takes Shape as Army Firms Up for Sale
- Sovereign wealth fund studying 3 more assets for stake sales
- Arab nation looking to attract large-scale private investment
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Egypt is considering selling ownership in three more army-held companies in 2021, a potentially historic opening of part of the economy to much-sought-after private investment.
The chief executive officer of Egypt’s sovereign wealth fund, Ayman Soliman, said studies are under way into further assets to offer. He spoke in an interview after last week’s announcement that stakes of up to 100% would be offered in a mineral-water company and a petroleum firm in the first quarter.