Ten petroleum companies are set to be temporarily listed on the Egyptian Stock Exchange (EGX) under the government’s privatisation programme, following a meeting chaired by Prime Minister Mostafa Madbouly with Karim Badawi, Minister of Petroleum and Mineral Resources , and senior officials from the Cabinet and the ministry.

The temporary listing gives companies six months to get their paperwork and finances in order before trading starts on their shares.

Madbouly emphasised that the decision aligns with the State Ownership Policy, which seeks to expand the private sector’s role across key economic activities. He noted that the temporary listing of petroleum companies is intended to improve performance, enhance competitiveness, and attract new investments.

The State Ownership Policy is the strategic framework revealed in 2022  to limit the state’s role in the economy by identifying specific sectors for total or partial divestment to increase private sector participation to 65% of total investments.

Badawi explained that the ministry’s vision for the listings is tied to Egypt’s initial public offering (IPO) programme, a cornerstone of Egypt Vision 2030. He stated that the initiative aims to restructure management practices within state‑owned petroleum firms, leveraging recent sector growth to generate liquidity for future projects. Companies are selected for listing based on their strong liquidity and proven ability to attract international institutional investors.

Badawi added that listing petroleum companies on EGX will give them access to diverse financial instruments, secure funding for expansion, and benefit from daily market trading as a transparent performance evaluation tool. This, he noted, could influence mergers and acquisitions, strengthening operational positions. He further highlighted that the listings will attract institutional investors, support Egypt’s balance of payments, and improve governance through stricter disclosure rules, while reducing reliance on state budgets or loans.

Hashem El-Sayed, CEO of the  Cabinet’s State-Owned Enterprises Unit, confirmed that six state-owned companies had already been temporarily listed in recent days. He stressed that the goal is to ensure fair valuation and governance of state-owned enterprises.

The meeting concluded with an agreement to begin immediate procedures for the temporary listing of 10 petroleum companies, with Prime Minister Madbouly directing that a clear timeline be established to finalize the process.