Latest news with #TSFE
Egypt Independent
a day ago
- Business
- Egypt Independent
PM reviews steps to establish central unit for state-owned companies
NEW ALAMEIN, Egypt, July 28 (MENA) – Prime Minister Mostafa Madbouly affirmed that the government's submission of a bill to Parliament to establish a central unit for monitoring and regulating state-owned companies reflects Egypt's commitment to enhancing the governance and management of public assets. The initiative aims to boost efficiency and maximize returns in line with international best practices and the State Ownership Policy (SOP) document adopted in recent years. Madbouly's remarks came during a meeting held Monday evening in New Alamein to review the implementation steps for setting up the new unit. The meeting was attended by Minister of Planning, Economic Development and International Cooperation Rania Al-Mashat, Finance Minister Ahmed Kouchouk, and Minister of Investment and Foreign Trade Hassan el-Khatib, who joined via video conference. The prime minister noted that the session was intended to review and initiate the executive steps necessary to establish the unit, following the Parliament's approval of the draft law regulating aspects of state ownership in companies. He underscored the unit's pivotal role, alongside the Sovereign Fund of Egypt (TSFE) and the Initial Public Offering (IPO) Unit, in managing this portfolio. Madbouly explained that the new unit will maintain a comprehensive database of state-owned assets, especially those slated for private-sector engagement, and will oversee all related decisions and procedures. It will also be responsible for implementation, in coordination with relevant ministries. Its decisions will be binding on all government entities to ensure the consistent and effective application of state asset policies. He added that this move represents a significant institutional milestone in public asset management and reflects the government's drive for greater transparency and fiscal discipline. It is expected to improve public spending efficiency and attract further investment while preserving state ownership of strategic assets. Participating ministers expressed their full support, affirming that the unit will serve as a key coordination mechanism across government agencies and play a vital role in restructuring underutilized assets to ensure their optimal use. Cabinet spokesman Mohamed el-Homsani said that the meeting also highlighted the importance of preparing the unit's organizational structure and developing a comprehensive work plan, pending the final approval of the law by Parliament. This step follows the government's earlier decision to transfer ownership of several companies and assets to the TSFE to boost returns and expand private-sector and investor participation, while safeguarding state control over strategic assets. (MENA) R R N/R E E
Middle East
3 days ago
- Business
- Middle East
OPEN// PM reviews steps to establish central unit for state-owned companies
NEW ALAMEIN, Egypt, July 28 (MENA) – Prime Minister Moustafa Madbouli affirmed that the government's submission of a bill to Parliament to establish a central unit for monitoring and regulating state-owned companies reflects Egypt's commitment to enhancing the governance and management of public assets. The initiative aims to boost efficiency and maximize returns in line with international best practices and the State Ownership Policy (SOP) document adopted in recent years. Madbouli's remarks came during a meeting held Monday evening in New Alamein to review the implementation steps for setting up the new unit. The meeting was attended by Minister of Planning, Economic Development and International Cooperation Rania Al-Mashat, Finance Minister Ahmed Kouchouk, and Minister of Investment and Foreign Trade Hassan el-Khatib, who joined via video conference. The prime minister noted that the session was intended to review and initiate the executive steps necessary to establish the unit, following the Parliament's approval of the draft law regulating aspects of state ownership in companies. He underscored the unit's pivotal role, alongside the Sovereign Fund of Egypt (TSFE) and the Initial Public Offering (IPO) Unit, in managing this portfolio. Madbouli explained that the new unit will maintain a comprehensive database of state-owned assets, especially those slated for private-sector engagement, and will oversee all related decisions and procedures. It will also be responsible for implementation, in coordination with relevant ministries. Its decisions will be binding on all government entities to ensure the consistent and effective application of state asset policies. He added that this move represents a significant institutional milestone in public asset management and reflects the government's drive for greater transparency and fiscal discipline. It is expected to improve public spending efficiency and attract further investment while preserving state ownership of strategic assets. Participating ministers expressed their full support, affirming that the unit will serve as a key coordination mechanism across government agencies and play a vital role in restructuring underutilized assets to ensure their optimal use. Cabinet spokesman Mohamed el-Homsani said that the meeting also highlighted the importance of preparing the unit's organizational structure and developing a comprehensive work plan, pending the final approval of the law by Parliament. This step follows the government's earlier decision to transfer ownership of several companies and assets to the TSFE to boost returns and expand private-sector and investor participation, while safeguarding state control over strategic assets. (MENA) R R N/R E E
Zawya
10-07-2025
- Business
- Zawya
Egypt: Cabinet assigns TSFE to study use of 15 vacant buildings
Arab Finance: The Egyptian cabinet has mandated the Sovereign Fund of Egypt (TSFE) to study the transfer of ownership of 15 unoccupied buildings, with the goal of preparing them for utilization and future investment offerings, as per a statement. During the weekly meeting chaired by Prime Minister Mostafa Madbouly, the cabinet reviewed the ongoing relocation process of government headquarters following the transition to the New Administrative Capital. The TSFE was instructed to proceed with necessary actions concerning already transferred properties and to study the feasibility of acquiring additional vacant buildings. The cabinet also approved the continuation of work by the committee established under Prime Ministerial decree No. 2684 of 2023, which is tasked with relocating entities lacking available space in the New Administrative Capital. The relocation process will be based on comprehensive feasibility studies and actual needs, including the potential use of buildings vacated by previously relocated entities. Additionally, the cabinet approved issuing a circular requiring all ministries, agencies, and departments to secure vacated premises that have yet to be relocated, pending final decisions on their use. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
26-05-2025
- Business
- Zawya
Egypt: TSFE plans to maximize returns from state assets, El-Khatib
Arab Finance: The Sovereign Fund of Egypt (TSFE) is planning to maximize returns from state assets, Minister of Investment and Foreign Trade Hassan El-Khatib announced. The government is also keen on attracting more foreign investment for the fund's projects and moving forward with the State Ownership Policy Document by expanding partnerships with the private sector, added El-Khatib. The remarks came during the minister's speech at the Emerging Markets Intelligence & Research (EMIR) Center conference held in the UAE, with the participation of CEOs of 200 companies. El-Khatib noted that negotiations are underway between Egypt and the UAE regarding a strategic partnership agreement to advance joint economic and investment relations. He reviewed the currently adopted measures by the government related to fiscal, monetary, and trade policies aimed at facilitating investor access, attracting more investment, and increasing Egypt's foreign trade. The minister also highlighted the state's plans to reinforce the role of the private sector in the economy and expand the volume of domestic and foreign investment by securing an attractive and sustainable investment environment, in addition to formulating supportive policies and legislation. He outlined the government's priority sectors, including industry, health, agriculture, and investment, as well as renewable energy, solar energy technology, microchips, data centers, and outsourcing services. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Daily News Egypt
09-04-2025
- Business
- Daily News Egypt
Egypt signs agreements to offer five NSPO-affiliated companies under State Ownership Policy
Prime Minister Moustafa Madbouly witnessed on Wednesday the signing of a series of collaboration agreements between the Sovereign Fund of Egypt for Investment and Development (TSFE), the National Service Projects Organization of the Armed Forces (NSPO), and a select group of specialized local and international consulting firms. The agreements pertain to the restructuring and management of the offering process for several NSPO-affiliated companies. The ceremony was attended by Hassan El-Khatib, Minister of Investment and Foreign Trade. The agreements were signed by Magdy Anwar, Director-General of NSPO, and Noha Khalil, CEO of TSFE, along with representatives from the participating consulting firms. In the financial advisory capacity, Mohamed Hafez Gabr signed on behalf of EFG Hermes for Subscription Promotion and Coverage, while Amr Helal represented CI Capital for Subscription Promotion and Coverage. For legal advisory services, the signatories included Ragy Soliman, representing Adsero – Ragy Soliman and Partners Law Firm, and Omar Salah El-Din Bassiouny, Founding Partner of Matouk Bassiouny and Hennawy Law Firm. In the field of accounting and tax consultancy, the agreements were signed by Kamel Magdy Saleh on behalf of Grant Thornton Saleh, and by representatives Abdel Aziz and Magdy Ezz El-Din from PricewaterhouseCoopers Ezz El-Din, Diab & Co. On the commercial and strategic consulting front, Francesco Palmieri Luppia signed the agreements representing Boston Consulting Group. These agreements fall under the framework of the government's broader initiative to implement the state-owned companies offering program. The objective is to gradually transfer the management of key public assets to private-sector institutions, in line with Egypt's State Ownership Policy Document. The agreements specifically target the offering of five NSPO-affiliated companies: Wataniya Petroleum Company, Chill Out, Silo Foods, Safy, and the National Roads Company. The restructuring and offering process for these entities is governed by a memorandum of understanding (MoU) previously signed between NSPO and TSFE. According to the agreements, the initial offerings of some companies are scheduled to take place in 2025, with the remainder expected to follow in 2026.
