In a high-profile event at the historic Egyptian Exchange headquarters in downtown Cairo, Egypt celebrated a major milestone in the transport and logistics industry as the Egyptian Transport and Services Company (Egytrans) finalized its acquisition of the National Company for Transport and Offshore Services (NOSCO). The transaction also included the reduction of the National Investment Bank’s (NIB) share in Egytrans from 25.5% to 18.3%.
The bell-ringing ceremony was attended by a distinguished group of senior officials, reflecting the strategic national importance of the transaction. Present were Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel Al-Wazir, Minister of Investment and Foreign Trade Hassan Al-Khatib, Chairperson and CEO of Egytrans, Abir Leheta, Minister of Supply and Internal Trade Sherif Farouk, Chairman of the Financial Regulatory Authority Mohamed Farid, and Chairman of the Egyptian Exchange Islam Azzam.
Dr. Rania Al-Mashat, Minister of Planning and Chairperson of the National Investment Bank, presided over the ceremony, describing the acquisition as a signal of investor confidence, market dynamism, and Egypt’s expanding role as a regional logistics hub.
Transport and logistics Among Fastest-growing Sectors in Egypt
Speaking during the ceremony, Al-Mashat emphasized that the transport and logistics sector has been one of Egypt’s strongest contributors to economic growth over the past decade.
“Transport and logistics are among the sectors contributing most to growth, supported by major developments in the sector since 2014,” she said, highlighting massive infrastructure upgrades, port expansions, and increased investment flows.
She added that the National Investment Bank’s decision to reduce its stake in Egytrans aligns with the state’s strategy to empower the private sector, improve market competitiveness, and diversify ownership in publicly traded companies.
A strategic step for Egypt’s logistics landscape
The acquisition of NOSCO by Egytrans consolidates two of the country’s most established transport service providers, expanding capabilities in freight forwarding, project logistics, and offshore transport.
Industry observers say the move strengthens Egypt’s ambition to position itself as a gateway for trade across Africa, the Middle East, and Europe—especially amid growing demand for integrated logistics, supply chain efficiency, and multimodal transport solutions.
High-level attendance signals government backing
In addition to Al-Mashat and other senior ministers, the event brought together Ashraf Negm, Managing Director of the National Investment Bank, Dr. Hashem El-Sayed, Assistant to the Prime Minister and CEO of the State-Owned Companies Unit, and Magued Shawky, Chairman of Egytrans
Their presence underscored the government’s commitment to supporting capital market activity, enhancing corporate governance, and promoting private-sector-led growth as part of Egypt’s economic reform agenda.
