Rami El-Dokany, Executive Chairman of The Egyptian Exchange (EGX), participated in the 7th Annual MENA Investor Conference, organized by CI Capital Holding
Tuesday, 7 February 2023Egyptian Exchange Posted
Rami El-Dokany, Executive Chairman of The Egyptian Exchange (EGX), participated in the 7th Annual MENA Investor Conference, organized by CI Capital Holding, from January 30th to February 1st, 2023, in the presence of Dr. Mostafa Madbouli, Egyptian Prime Minister.
EGX Chairman indicated that the Egyptian government continued endeavor to implement the economic reform program as well as enhancing the levels of coordination and cooperation with the Financial Regulatory Authority (FRA).
El-Dokany added that the implementation of the economic reform agenda contributed to enhance the confidence of the investment community, which was reflected in the market performance and enhancing liquidity.
He pointing out that the liquidity turnover rate exceeded 150% during 2022, which is the highest among the region’s markets.
He added that sectoral diversification is one of the competitive advantages of the Egyptian market, as it provides a higher hedge against fluctuations in the prices of basic commodities such as oil compared to the region’s markets.
In addition to the competitiveness of investment, returns achieved by securities traded on the Egyptian Exchange for investors.
El-Dokany stressed that the positive performance of the Egyptian market motivated financial institutions to increase their trading during 2022. The increase reached 47% of the total trades, which is the highest percentage in recent years. Foreign investors’ participation reached 31% by the end of 2022 compared to about 21% a year ago.
He added that the EGX management seeks to continue efforts aiming to increase the efficiency and depth of the Egyptian capital market, by introducing a number of new financial products and tools that meet the needs of various types of investors.
He concluded that EGX’s is continuing its communication with all market parties from local institutions, roadshow and direct meetings with representatives of regional and foreign financial institutions to review the success and development stories witnessed by the Egyptian market.
