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.
