The military-affiliated Mostaqbal Misr (Future of Egypt) for Sustainable Development plans to float its subsidiaries on the Egyptian Exchange once they meet listing requirements, its executive director Bahaa El-Ghannam said, citing the rule that companies must have three consecutive years of financial statements.
The plan would add to the government’s push to broaden private-sector participation and expand listings, as Egypt faces pressure to curb the economic footprint of military-linked entities and deepen capital markets.
In a video posted Wednesday on Mostaqbal Misr’s Facebook page, El-Ghannam said the agency was established at the end of 2022, meaning some subsidiaries have not yet completed the three-year track record required for listing. “Once this condition is met, the companies will be floated on the stock exchange,” he said, adding that their operating profits make them attractive to investors.
El-Ghannam said Mostaqbal Misr has already moved to support capital market activity by creating an investment portfolio in the stock exchange through acquiring stakes in listed companies, while making periodic disclosures when ownership exceeds 5%. He said the acquisitions were made in the project’s name directly, not through intermediary entities, as part of what he described as an effort to entrench transparency and a unified institutional structure.
He added the goal of the investments is to strengthen assets and increase the capital of the acquired companies, supporting expansion plans and business growth, which he said would reflect positively on company performance and shareholders’ interests, while also backing stability and development in Egypt’s capital market.
Mostaqbal Misr executed several acquisition deals in 2025, starting the year by buying 52.6% of shareholders’ stakes in the Egypt Mercantile Exchange, giving it management and operating rights, before it later acquired about 89.66% of Arab Land Reclamation’s capital in August.
In September, it carried out two acquisitions, obtaining 8.775% of International Medical Industries (Ikme) after purchasing 5.060 million shares worth 22.773 million Egyptian pounds (about $485,000), and buying about 111.103 million shares in Mansoura Poultry worth more than 212 million pounds (about $4.51 million).
At the end of last year, the agency raised its stake in Housing and Engineering Consulting from 1.368% to 12.891% after buying about 2.7 million shares worth more than 236 million pounds (about $5.02 million).
Those deals come as the International Monetary Fund has criticized the investment expansion of military-owned companies, pushing the government to signal it is ready to list 10 companies on the Egyptian Exchange, including some affiliated with the armed forces such as Wataniya and Safi, after El-Sisi previously said Egypt was ready to list “all” army companies on the exchange.
