EGX attracts 22K new investors in 2017

CAIRO - 26 December 2017: "The Egyptian Exchange (EGX) attracted new 22,000 investors in 2017, up from 16,000 investors in 2016," Minister of Investment Sahar Nasr said in a Tuesday press conference with EGX chairman Mohamed Farid.

"Foreign institutions and funds in Egypt hiked as well to 1,150 entities, compared to 900 in 2016," Nasr added, noting that the trading value surpassed LE 292 billion, which is the highest value since 2009.

"The improvement in the EGX's performance in 2017 is an indication of the success of the economic reform program," the minister highlighted.

Nasr confirmed that the government will move forward with the legislative reforms to improve the business climate, as new stock market and financial lease laws will be discussed in the parliament "within days".

Briefing the press about the performance of the EGX in 2017, EGX chairman Farid said that around 46 listed companies have increased their capital by LE 9.7 billion this year, which is 86 percent more than capital increase operations last year.

Around LE 4.2 billion of the recent capital increases took place in the last four months, "these hikes reflect an improvement in the economic situation in Egypt", Farid added.