The Egyptian Exchange joined the AELP linkage project between African Stock
Exchanges initiative to enhance investments and liquidity among African
markets. This comes within EGX’s efforts to boost its presence and
connectivity with African markets.
This came as part of Mohamed Farid, EGX chairman, participation in the 51 st
African Securities Exchanges Association (ASEA) board meeting and African
Exchanges Linkage Project (AELP) meeting held last week in Marrakesh,
Morocco and hosted by Casablanca Stock Exchange.
Member Exchange to participate in the AELP project are; Nigerian Stock
Exchange, Nairobi Securities Exchange, Johannesburg Stock Exchange,
Casablanca Stock Exchange, Stock Exchange of Mauritius, and Bourse
Régionale des Valeurs Mobilières (BRVM) along with The Egyptian Exchange.
The African Development Bank is supporting the AELP initiative and is working
on the implementation plans that will help in the African capital markets
development and enriching its role in providing funding to growing businesses
and consequently creating jobs.
Mohamed Farid said that this initiative aimed at increasing and enhancing
intra-regional investments between African stock exchanges, through
building/sourcing an electronic platform linking all related parties, to simplify
and ease trading between all markets engaged in this initiative.