Prime Minister Mostafa Madbouly recently announced an acceleration of the government’s program to expand the ownership of state-owned enterprises through financial markets. During a meeting with the Chairman of the Board of Directors of the Financial Regulatory Authority, Mohamed Farid, he stressed the importance of strengthening the non-bank financial sector to contribute to the national economy.
Madbouly insisted on the government’s commitment to intensify and finalize the program aimed at broadening the shareholder base of public companies, with the objective of boosting stock exchanges, market capitalization and the number of operations. This approach is part of the desire to develop the capacities of the non-bank financial system, an essential pillar of the national economy.
The Financial Regulatory Authority is committed to realizing an ambitious vision aimed at strengthening the key role of the non-bank financial sector in the national economy. This collaboration between the government and the Authority demonstrates the importance given to the development and growth of the financial sector, with the aim of making it a solid pillar of the national economy.
This initiative is expected to help boost the financial market and strengthen investor confidence in public companies, thereby creating a favorable environment for investment and economic growth. Ultimately, this is an important step in the modernization and diversification of the Egyptian economy.
This partnership between the government and the Financial Regulatory Authority is therefore essential to stimulate economic growth and strengthen Egypt’s position on the international scene.