EGX pumps LE 48bn into Egyptian economy in 4 years, says chairman

CAIRO - 30 July 2017: The Egyptian Exchange has over the past four years pumped more than 48 billion pounds into the national economy.

Mohamed Omran, the EGX chairman, said the strategic plan of the bourse aims to enhance institutional performance and upgrade the trading system.

The EGX has always played a good role despite local, regional and international challenges, Omran said in a press conference to review a report on EGX performance (2013-2017) Sunday.

The EGX has contributed some 37 billion pounds through increasing the capital of 183 companies since 2013, added Omran.

Another 46 companies have also joined the market, the EGX chairman told reporters.

The EGX, he said, focused on directly supporting the Egyptian economy through easing measures for companies to obtain funds for expansion, noting this is one way to help increase economic growth and create jobs.

Omran also spoke of measures taken by the EGX to introduce radical change to the bidding system to help companies get funds and grow.

Over the past four years, the EGX has worked to also attract promising companies to the Egyptian market through promotion campaigns and conferences, Omran added.