03 April 2024

The Qatar Investment Authority (QIA), the Qatari sovereign fund, has resumed discussions with the Egyptian government for the purchase of the 45% stake held by the State in Vodafone Egypt. The resumption of negotiations comes after measures taken by the Egyptian Central Bank to stabilize the exchange rate of the Egyptian pound.

It was in October 2022 that the QIA initiated talks with the Egyptian government regarding the acquisition of approximately $2.5 billion of state stakes in various companies, including Vodafone Egypt. The stake is held through Telecom Egypt, while Vodacom Group holds a 55% majority stake.

If successful, this transaction should bring additional revenue to the Egyptian government. The country has committed to a vast program in 2023 aimed at selling state stakes in 32 companies operating in 18 sectors to raise around $5 billion.