VOL. XLIII

No. 23

5-June-2000

EGYPT

Egyptian JVB Privatization Expected To Move Ahead Despite Past Setbacks

The privatization of Egypts joint-venture banks (JVBs) has been slow for the last two years, with no activity in 1998 and only one sale in 1999 Bahrains Arab Banking Corporation purchased 66% of Egypts Arab African Bank at E50 ($14.6) per share in a deal worth E247.5mn ($72.15mn MEES, 11 October 1999). However, the pace of privatization may accelerate after an encouraging government...