Egyptian government set to boost stock market, revenues, by prioritizing banks in IPO program

Reporting by Daily News Egypt has highlighted that the Egyptian government is looking to revamp its asset monetization and initial public offerings (IPOs) program, by prioritizing banks and financial institutions for listing on the stock exchange over the next few years. 

According to government documents this initiative will also extend to companies in the energy, transportation, and communications sectors which will also be considered for IPOs. 

This move is expected to revitalize the market, enhance corporate governance, and contribute to the government’s ambitious non-tax revenue target of $12.45 billion USD for the current fiscal year (FY) 2024/25.