Mr. Mohamed Farid, The Egyptian Exchange (EGX) Chairman, signed a Memorandum of Understanding with Mr. Amr El Sejini, The Egyptian Junior Business Association (EJB) Chairman, to sustain EGX efforts in introducing the investment opportunities of the stock market to the business community.
EGX Chairman said, “The MOU with EJB aims at informing the association’s members, companies and individuals of the advantages of listing and investing on the stock exchange, especially long-term investment, in order to attract new strong companies to list on EGX”.
Farid noted that this move comes within the framework of a comprehensive strategy led by EGX Board of Directors in order to spread the financial awareness. This contributes in raising the efficiency and depth of the market, through listing new companies and increasing trading volumes by introducing the public to the benefits of listing and investment.
Farid, continued “EGX is ready to offer a variety of services to EJB members who wish to be listed on EGX, provided that they plan to expand and grow”.
Farid explained that the MOU will be followed by arranging several important events such as workshops and seminars to introduce EJB members, companies and individuals, to the advantages of listing and investing on the stock market, highlighting that EGX is a long-term saving tool that contributes to the distribution of wealth and income.
Moreover, EGX Chairman affirms his belief in the necessity to support the SMEs sector through NILEX for its tremendous potential towards the growth of the economy. In addition to benefiting from the energy and creativity of the Egyptian youth, also benefiting from the developments occurred lately in the entrepreneurship, capital funding and business incubators.
Farid revealed that EGX’s management will continue its efforts to raise the awareness of the private sector about the issues of sustainability achieved through listing on the stock exchange.
He pointed out that the existence of an active, efficient and effective capital market is a necessity for any nascent economy that wants to compete, Knowing that the current strategy of EGX’s management is to continue the development of the Egyptian stock market to witness a qualitative leap to be able to compete regionally and internationally and to carry out its role in attracting more investments to the Egyptian market.
Mr. Amr El Sejaini, chairman of the Egyptian Junior Business Association, said: “I expect this cooperation to have positive results. as the Egyptian Exchange is a pioneer market and an important platform for the financing of small and medium enterprises, which play an important role in the development of the economy, taking into consideration its main role in fighting poverty and unemployment indicators.
El Sejaini mentioned that the MOU with EGX will be followed by the organization of detailed workshops and seminars to identify and motivate members of the association to invest and save on the stock exchange. Moreover, companies will benefit from the listing on EGX by raising the necessary funding to expand its business.
Al-Sejaini explained that the Mr. Mohamed Farid’s enthusiasm drives the continuation of this cooperation and encourages association’s board of directors and members to create plans and programs to maximize their benefit from EGX to develop SMEs.
In conclusion, EGX Chairman stressed all what is mentioned, and welcomed the coordination with the management of the association to provide the required technical consultations, looking forwards towards greater interaction with the association’s members.