Egypt has begun the sale of a stake worth up to $104m in United Bank, said to be the country's first initial public offering (IPO) since 2021. This move is a key component of a privatisation programme supported by the International Monetary Fund (IMF).

Egypt’s central bank said on Wednesday that it will sell a 30 per cent stake in state-owned United Bank through an initial public offering (IPO) on the local exchange, as the North African nation presses ahead with plans to attract foreign investment through the sale of public assets.