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AE Template 17 Egypt Power Report – 2020 www.africa-energy.com About African Energy Reports About African Energy Reports Egypt Power Report 2020 is the third in a series of comprehensive studies on key energy industry segments presented by African Energy ’s consultancy group. The reports are intended to provide executives, Egypt Power Report – 2020 financiers, investors, policy-makers and other Published February 2020 stakeholders with a concise but authoritative document that provides an overview of a country’s politics and risk profile, and of the major macroeconomic and business trends that impact DRaevpido Srltaste rEditor [email protected] on projects. The reports provide data to illustrate and analysis to aid understanding of critical JCohonn Htraibmuiltoonr, s Ajay Ubhi questions for the energy industry. Daniel Westbury-Haines About African Energy DLiavne M Darakts a Editor African Energy is a UK-based market [email protected] intelligence provider that has been helping businesses navigate the challenges of the African JEodn iMtoarrikas l Director continent’s complex industries for over two [email protected] decades. Sales and Service Managed and owned by Cross-border Direct:+44 (0) 1424 721 667 Information, African Energy has 16 full-time staff Fax: +44 (0) 1424 721 721 Email: [email protected] in the UK, and a network of correspondents and associates active in over 40 African countries. African Energy’s services include: www.africa-energy.com • Newsletter – A respected source of independent analysis since 1998, covering emerging energy trends and the political and governance issues that concern established operators, new entrants and the finance sector. • Live Data – Live-updated online data platform featuring more than 5,500 power plants in Africa. 2019 Cross-border Information. All rights reserved. Data and information published in African Energy is provided to Cross- • Consultancy – Bespoke consultancy and border Information (CbI) by its staff and network of correspondents through extensive surveys of sources and published with the intention of advisory services ranging from market entry being accurate. CbI cannot insure against or be held responsible for inaccuracies and assumes no liability for any loss whatsoever arising studies for developers and financiers to large from use of such data. public sector-tendered monitoring and evaluation No portion of this publication may be photocopied, reproduced, retransmitted, put into a computer system or otherwise redistributed studies. without prior authorisation from Cross-border Information. Registered office: 4 Bank Buildings, Station Road, Hastings, East Sussex TN34 1NG, United Kingdom. • Reports – Instant access to essential market Directors: JJ Marks, JM Ford, JD Hamilton, NJ Carn, E intelligence on Africa’s power, renewables, oil and Gillespie gas sectors. 2 AFRICAN ENERGY • EGYPT POWER REPORT • 2020 Contents TABLE OF CONTENTS 1. EXECUTIVE SUMMARY .......................................................................................12 COUNTRY SNAPSHOT ............................................................................................15 2. RISK MANAGEMENT REPORT ...........................................................................16 3. POLITICAL OVERVIEW ........................................................................................18 3.1 Structure of government ...............................................................................................................18 - Political ..................................................................................................................................18 system - April 2019 constitutional changes ......................................................................................................18 - Authoritarian trend .............................................................................................................................18 3.2 Key actors ......................................................................................................................................19 - President Abdel Fattah El Sisi ............................................................................................................19 - Prime Minister Mostafa Kamel Madbouly ..........................................................................................20 - Minister of electricity and renewable energy Mohammed Shaker El Markabi ...................................20 - Deputy minister of electricity and renewable energy Osama Ali Asran .............................................21 - First under-secretary for research, planning & authorities follow-up Mohamed Mousa Omran ........21 - Egyptian Electricity Holding Company chairman Gaber Desouky .....................................................21 - Egyptian Electricity Transmission Company chairwoman Sabah Mashaly ........................................21 - Electricity Utility Regulatory Authority CEO Mohamed Abdel Aziz Hassan Abdel Rahman ..............22 - New and Renewable Energy Authority executive chairman: Mohammed El-Khayat ........................22 3.3 Overview of main political parties .................................................................................................22 - Governing party: Independents and Sisi loyalists ..............................................................................22 - Main opposition: Civil Democratic Movement .................................................................................. 23 - Other parties ......................................................................................................................................23 3.4 Elections ........................................................................................................................................23 - Electoral system .................................................................................................................................23 - Previous election ................................................................................................................................23 - Next election ......................................................................................................................................23 3.5 Major policy initiatives .................................................................................................................. 23 3.6 Corruption ......................................................................................................................................24 - Transparency International rating .......................................................................................................25 - Major corruption concerns .................................................................................................................25 3.7 Security risks .................................................................................................................................25 - Risk of terrorism .................................................................................................................................25 - Risk of ethnic/tribal conflict ...............................................................................................................26 3.8 Recent major developments .........................................................................................................26 AFRICAN ENERGY • EGYPT POWER REPORT • 2020 3 Contents 4. MACROECONOMIC OVERVIEW .........................................................................27 4.1 Overview ........................................................................................................................................27 4.2 GDP ................................................................................................................................................28 - Trends/projections ..............................................................................................................................28 - Breakdown of economy by sector .....................................................................................................28 4.3 Inflation ..........................................................................................................................................28 4.4 Current account .............................................................................................................................29 4.5 Balance of payments .....................................................................................................................29 4.6 Public debt .....................................................................................................................................30 - Risk of debt distress ..........................................................................................................................30 - Debt-to-GDP ......................................................................................................................................30 - Debt service as percentage of exports ..............................................................................................30 - Major creditors ...................................................................................................................................30 4.7 Credit ratings .................................................................................................................................31 4.8 Exchange
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