Egypt is finalising procedures for four state-owned companies under its stock-market offering programme as it seeks to accelerate privatisation and reduce the government’s role in the economy.

Twenty of the 30 companies covered by the programme have already secured temporary listings on the Egyptian Exchange (EGX), Prime Minister Mostafa Madbouly said after a meeting reviewing the state asset-divestment programme on July 13.

The 20 temporarily listed companies comprise 17 public-business-sector firms and three petroleum companies, while technical procedures are continuing for the remaining 10. The overall programme covers 20 public-business-sector companies and 10 petroleum companies.

Temporary listing is a preliminary regulatory step and does not mean that shares are available for trading. Companies must still complete valuations, register with the Financial Regulatory Authority, appoint advisers, prepare prospectuses and secure final approvals before an initial public offering can proceed.

Four companies temporarily admitted to the exchange in June were Engineering for the Petroleum and Process Industries, known as Enppi; Egyptian Linear Alkyl Benzene Company; Petroleum Marine Services; and El-Maamoura for Construction and Tourism Development.

Hashem El-Sayed, head of the State-Owned Enterprises Unit, said technical work was continuing on the companies that had not yet completed the temporary-listing process.

Investment and Foreign Trade Minister Mohamed Farid also reviewed preparations for the sale of a stake in state-owned Misr Life Insurance. The government plans to offer up to 20% of the insurer through the Egyptian Exchange.

Farid said in June that Egypt expected to complete as many as four state-company listings over the following 12 months, including the long-delayed sale of up to 20% of Misr Life Insurance. The government expects more than seven public and private IPOs in total during the period.

The offering programme is being coordinated with the Sovereign Fund of Egypt and forms part of an updated State Ownership Policy designed to improve governance, maximise returns from public assets and widen private-sector participation.

Madbouly said private investment had exceeded 56.5% of total investment and was expected to surpass the government’s 65% target within two years.

Egypt has repeatedly announced state-asset sales since launching its privatisation programme in 2023, but several planned offerings have faced delays caused by market volatility, valuation disagreements and lengthy preparation procedures.

The government’s efforts to reduce the state’s economic footprint are also a central commitment under Egypt’s $8bn programme with the International Monetary Fund.