Ramy El-Dakani, head of the Egyptian Stock Exchange, said that he held meetings with investment banks and major companies to set a vision for investment in the Egyptian capital market to restore the confidence of foreign investors in the Egyptian Stock Exchange. Working on files to increase demand, activate the trading environment, and increase the number of listed companies.
This came during a press conference held this morning, Tuesday, at the headquarters of the Financial Supervisory Authority in the Smart Village, to present the authority’s vision to advance non-banking financial services to support the national economy, in the presence of the two Vice-Presidents of the Authority, Ahmed Abdel Rahman, Dr. Heba Al-Serafy, and a number of the authority’s leaders.
Al-Dukani added that with regard to the increase in demand, the EGX management is counting on increasing the participation of government investment funds in the Egyptian capital market. Because the current ratios are small compared to the size of these funds, and the number of individuals investing in the stock exchange will be increased, and we are cooperating with financial technology companies to reach a new segment of individuals, especially young people, as 88,000 new investors registered in the stock exchange, including 11,000 new investors through technology companies.
Ramy El-Dakani explained that young people’s trading in the Egyptian Stock Exchange is weak, as 59% of dealers are in the 45-60 age group, and therefore it is necessary to launch new products in cooperation with asset management companies to provide new products suitable for young people, in light of the financing pressures facing them. brokerage firms at the moment.
Ramy Al-Dukani stated that with regard to the supply side, the EGX administration is working in cooperation with the government to activate the file of government offerings, by convincing state-owned companies to accelerate the pace of offering on the stock exchange, and the importance of this offering in achieving company financing, and new investment funds will be launched that allow small investors to trade. In the money market, to address the mental image that the stock market is a market for the rich only.
The Chairman of the Egyptian Stock Exchange referred to the Stock Exchange’s vision to improve the trading environment by activating the fixed income market, in addition to activating the “Short Selling” mechanism in cooperation with the Misr Clearing Company, in addition to launching new indices that allow asset management companies to launch products on these indices.
Ramy El-Dakani pointed to the role of the Egyptian Stock Exchange in supporting sustainability and creating new products in this field, as products will be launched that enhance the role of companies in this regard, noting in this context that the stock exchange is a platform for trading carbon certification in cooperation with international bodies and launched during the Climate Change Conference. .
The head of the Egyptian Stock Exchange said that for the first time there is coordination between the Financial Supervisory Authority, to raise the efficiency of the capital market and its workers and all parties related to the market, and coordination and resolving challenges will also be done without prejudice to the stability of markets, and market discipline, which is being worked on continuously by various parties in the market. .