Business · Companies · 4 hrs ago
Egypt sells 45% of Banque du Caire in long-delayed share offering
The Egyptian government sold 45% of Banque du Caire in a share offering, while keeping the remaining 55% stake.
The bank’s shares began trading on the Cairo stock exchange, and their price rose by as much as 7% on the first day.
The sale values the bank at 20.5 billion Egyptian pounds, or about $370 million.
Plans to privatise the bank date back to 2007, but were delayed repeatedly, including after the global financial crisis.
Selling state-owned assets is part of Egypt’s $8 billion loan programme with the International Monetary Fund, which is due to end next month.
Supporters say the sale brings in cash while the state keeps control; critics say it could mean losing future income from public assets.
The listing is part of a wider privatisation drive, with planned share offerings in oil and development companies.
Egypt sold 45% of Banque du Caire in a share offering, ending a sale process delayed for nearly two decades.
The shares were offered at 5.30 Egyptian pounds each, valuing the bank at 20.5 billion pounds, or $370 million.
The share price rose as much as 7% on its first day of trading on the Egyptian Exchange.
The government retained a 55% stake in the bank.
The offering is part of a broader effort to reduce the state’s role in the economy, a key element of Egypt’s $8 billion loan programme with the International Monetary Fund.
Supporters described the listing as a step in financial reform, while critics warned it could sacrifice future state revenue.
- Who
- The Egyptian government sold shares in Banque du Caire.
- What
- It sold a 45% stake through a share offering and retained 55%.
- When
- Monday; the article was published on November 2, 2026.
- Where
- Banque du Caire shares began trading on the Egyptian Exchange in Cairo.
- Why
- The sale is part of efforts to reduce the state’s role in the economy and is linked to Egypt’s IMF loan programme.
Supporters of the sale
Critics of the sale
Economic reform
Supporters of the sale
Supporters called the listing an important step in financial reform and improving management of public assets.
Critics of the sale
Critics said selling state assets could sacrifice future returns and undermine economic sovereignty.
State ownership
Supporters of the sale
Supporters said the government retained a controlling 55% stake while gaining immediate cash.
Critics of the sale
Critics argued public assets should not be sold to address funding gaps and proposed reforms and production partnerships that preserve public ownership.
The government announced plans to privatize Banque du Caire.
The sale was delayed because of the global financial crisis and postponed repeatedly afterward.
The government sold 45% of the bank, and its shares began trading on the Egyptian Exchange.
- Stake sold
- 45%
- Government’s remaining stake
- 55%
- Offer price
- 5.30 Egyptian pounds per share
- Bank valuation
- 20.5 billion Egyptian pounds ($370 million)
- First-day share move
- Rose as much as 7%
- IMF loan programme
- $8 billion
7 sources
الاقتصاد السعودي يمتص تداعيات الحرب
What people are saying
This offering sends a clear message reflecting the state’s seriousness and commitment to moving forward with government offerings despite difficult global conditions and regional and international challenges.
It is an important and pivotal stage in the course of financial reform and the modernization of public asset management.
State property is not merely financial assets sold to fill funding gaps or repay debts, but a national wealth accumulated over generations and one of the most important pillars of economic security and national sovereignty.