RIYADH: Some military affiliated companies operating in the economy and civil sectors are being restructured to be listed on Cairo's Stock Exchange next year, Egypt's Prime Minister, Mostafa Madbouly, said.
The companies will be available to all Egyptians, not just the private sector, he added during his interview on a BBC program, citing President Abdel Fattah El Sisi’s statement.
Soliman did not disclose the names of other companies affiliated with the Egyptian army that are planned to be listed, until the validity of their legal structures is verified.
Earlier, Egypt offered more than 25 percent of the wholly state-owned e-finance company on the Egyptian stock exchange, the prime minister added.
Madbouly added that the size of the armed forces' institutions represents less than 1 percent of the Egyptian economy.
Ayman Soliman, the CEO of the Sovereign Fund of Egypt had previously revealed the organisation was in the process of completing the legal restructuring of two affiliated companies, namely the Safi food company and the Watania petroleum distribution company, with both set to be listed on the stock exchange.