Finance Minister: State to Finalize Divestment Deal Before Year-End
Egypt’s Minister of Finance, Ahmed Kojak, revealed the latest developments in the government’s privatization program, announcing that the state is working to complete a divestment deal before the end of the year as part of the ongoing public offering plan.
Speaking in a phone interview on the TV program “Al-Soura” hosted by Lamees El Hadidi on Al-Nahar channel, Kojak also discussed the progress of Egypt’s local sukuk (Islamic bonds) program, valued at EGP 200 billion and extending over two years.
He explained that sukuk represent a new financing instrument designed to attract a different class of investors, offering an appealing return and contributing to diversified funding sources.
> “The sukuk are open to all investors,” Kojak said, “but they particularly appeal to those seeking stable, long-term instruments that help grow their savings with good returns. The program will continue through a series of ongoing issuances.”
The minister noted that the first issuance, with a three-year maturity, has already been launched, adding that both local and international sukuk are considered more stable due to the long-term commitment typical of investors in this category.
Kojak emphasized that these efforts come as part of the government’s broader strategy to strengthen the domestic capital market, diversify funding tools, and advance the state’s divestment and privatization agenda.