EFSA issues over 2,300 approvals in 6 months

CAIRO – 30 July 2017: The Egyptian Financial Supervisory Authority (EFSA) issued 2,304 approvals for establishing new companies and increasing capitals in the first half of 2017, EFSA Head Sherif Sami announced Sunday.

The approvals valued LE 43.5 billion ($2.4 billion) in capital, where LE 21.5 billion of them is issued capital, recording 35 percent year-on-year increase, Sami said in an official statement.

The market capitalization of listed stocks in the Egyptian Exchange hiked 81 percent month-on-month in that period, recording LE 694 billion.

In the first six months of 2017, the trading value of listed and unlisted securities reached LE 185 billion, compared to LE 129 billion, with 44 percent increase, according to Sami.
With regards to bonds, their trading value marked LE 9 billion in six months.