Egypt is expected to sell stakes in at least 10 state-backed companies in 2025, including enterprises affiliated with the Armed Forces, the country’s Prime Minister Moustafa Madbouly confirmed on Wednesday.

The companies will either be listed on the stock market or offered to investors through partnership arrangements.

The entities include petroleum products distributor Wataniya, gas station convenience store chain ChillOut, mineral water bottling firm Safi and Silo Foods for Food Industries, which specialises in foods and snacks, Madbouly said during a broadcast media briefing.

Some of the businesses that are affiliated with the military, including Wataniya, could go public by mid-2025.

Other entities to be offered include Egypt’s Gabal El Zeit wind power station, Chemical Industries Development and Alamal Alsharif Plastics, AlexBank and Banque du Caire.

State-owned United Bank made its debut on the Egyptian Exchange Tuesday, following an IPO that raised EGP 4.57 billion ($ 90.4 million).

(Writing by Cleofe Maceda; editing by Seban Scaria) 
seban.scaria@lseg.com