Prime Minister Madbouly Denies Sale of Banque du Caire

Posted On: March 20, 2025
Posted By: Sofia Martinez
Comments: 0

Prime Minister Madbouly denied rumors of Banque du Caire’s $1 billion sale and confirmed ongoing evaluations for potential share offerings.

Prime Minister Mostafa Madbouly has dismissed rumors regarding the sale of Banque du Caire for $1 billion, as stated in an official announcement. He emphasized that the government’s public offering program involves an evaluation of both the United Bank and Banque du Caire. An advisor is conducting due diligence to determine the bank’s current valuation. Following this assessment, the government and the Central Bank of Egypt will decide whether to sell shares to a strategic investor or offer them on the stock market.

In summary, Prime Minister Madbouly has clarified that there are no plans to sell Banque du Caire, countering rumors of a $1 billion sale. The government’s strategy involves a thorough evaluation of the bank’s value, after which decisions will be made regarding potential share offerings in the future.

Original Source: www.zawya.com

Sofia Martinez

Sofia Martinez has made a name for herself in journalism over the last 9 years, focusing on environmental and social justice reporting. Educated at the University of Los Angeles, she combines her passion for the planet with her commitment to accurate reporting. Sofia has traveled extensively to cover major environmental stories and has worked for various prestigious publications, where she has become known for her thorough research and captivating storytelling. Her work emphasizes the importance of community action and policy change in addressing pressing global issues.