Egypt eyes Misr Life Insurance stake sale amid broader market shifts

Banque du Caire marks state IPO return

Banque du Caire began trading on the Egyptian Exchange as BQDC on 1 November 2026. This listing represents the first state initial public offering since the United Bank listing in December 2024.

The private placement for the bank recorded EGP 205.8 billion in orders, which is the highest volume ever for an Egyptian Exchange private placement.

Orascom Construction and OCI merger timeline

Shareholders granted approvals for the deal in January and on 30 October.

The Orascom Construction board meets this Thursday to approve a capital increase and the allotment of 97.2 million new shares to OCI. This capital increase will nearly double the paid-in capital of Orascom Construction to USD 207.4 million.

The company targets 24 November to issue and list the new shares on the Abu Dhabi Securities Exchange and the Egyptian Exchange.

Following the share issuance, OCI will delist from Euronext Amsterdam and enter liquidation. NNS Holding, the family investment firm of Nassef Sawiris, held approximately 57.3 percent of OCI as of mid-September.

The exit offer closes on 17 November unless extended.

A petition filed by the Dutch investment firm Value8 with the Enterprise Chamber to halt the merger vote and investigate OCI remained pending as of mid-October. The long-stop date for the merger agreement is 30 December.

In January, the Enterprise Chamber prohibited OCI from voting on the merger due to concerns regarding the role of Sawiris on both sides of the deal. Court-appointed directors decided in July to permit a vote on the merger, provided that the offer from NNS Holding is settled and declared unconditional.

Rosatom in talks for floating nuclear plants

Egypt is in active discussions with Russia’s Rosatom to acquire floating nuclear power plants. Refueling and servicing for these units are conducted in Russia, and each unit has a lifespan of up to 60 years.

Each floating unit generates 100 MW of power. This output is smaller than the 1.2 GW capacity of each of the four reactors at the El Dabaa plant. Rosatom operates the only existing floating nuclear plant, the Akademik Lomonosov, which has powered the Chukotka region in Russia since 2020.

The 4.8 GW El Dabaa plant carries an estimated cost of USD 28.75 bn, with a USD 25 bn Russian loan covering 85 percent of the funding.

The El Dabaa plant will receive nuclear fuel in May 2027. The first two units will connect to the grid in 2028, followed by the remaining two in 2029. The Electricity Ministry is currently evaluating the addition of at least two more reactors at the site, although officials have not established a final investment decision, cost, or timeline for that expansion.

Government debt and tax policy updates

The Egyptian government borrowed approximately EGP 4.3 trillion domestically during the first four months of fiscal year 2026/27. Officials used nearly all these funds to refinance existing debt.

Deputy Finance Minister for Tax Policy Ramy Youssef plans to release a new tax strategy for public consultation before the end of 2026.

This levy will not be implemented until the International Monetary Fund concludes its eighth review.

The government will launch a new property tax application this month. Officials plan to publish a digital price map by zone 90 days before linking any tax to those zones.

New land and property investment mechanisms

The Housing Ministry announced a new priority reservation mechanism for November land offerings. This mechanism allows companies that pay the full price in USD from abroad to skip bidding and installment options.

The Administrative Capital for Urban Development is drafting an incentives package for developers in the New Administrative Capital.

Egypt is attempting to revive public-private partnership language schools, though the second phase remains delayed due to a shortage of available land plots.

Economic outlook and corporate manufacturing targets

The World Bank projects a 23% rise in commodity prices this year. The bank expects relief for energy prices in 2027, but not for food prices.

Gourmet Chief Innovation Officer Dalia Sultan stated that 40% of the company's products are currently manufactured in-house. Sultan said the company has a target to increase this figure to 60%.