Mohamed Farid Saleh, Executive chairman of EGX, delivered a keynote speech at the CI Capital
MENA Investors Conference, during which he reviewed EGX’s strategy to develop the Egyptian
capital market Industry for this year.
He said that EGX’s management is working to achieve a qualitative shift in the framework of the
capital market industry applying the value chain strategy with its 3 axes, namely; the demand
through creating different channels of communication presenting EGX’s financial literacy
program that targets university students and companies’ employees. Improving trading
environment through adding and developing financial mechanisms and products and finally the
supply through increasing potential companies to list data on the CRM program that provides
consultancy to companies eligible and planning to list. In addition to improving the quality of
the disclosures submitted in both Arabic and English.
Farid announced that among EGX’s plan for this year, its’s management is finalizing a study for
the restructuring of the SME market in cooperation with the European Bank for Reconstruction
and Development (EBRD) to be discussed with the Financial Regulatory Authority (FRA) upon
completion. Also, EGX is finalizing the Mercantile Exchange to be launched soon. Lastly,
working in coordination with the Central Bank of Egypt (CBE) and the Ministry of Finance on the
development of the bond market.
"Previous experience shows that increasing our investors’ database will only come from fresh
IPOs, similar to what happened in the 1990s & 2004, listing companies like Telecom Egypt,
Alexandria Mineral Oils and Sidi Krier Petrochemicals, which revived the market and attracted
large and fresh segments of investors." Said Farid.