Despite the economic challenges facing the country, 2017 has been positive for the Egyptian Exchange (EGX), with the main index expanding by approximately 17% over the course of the year. This growth came on the back of a strong 2016, in which the EGX was one of the best-performing markets in the world in local currency terms. After the years of volatility which have accompanied Egypt’s difficult political and economic transition, the exchange entered 2018 in what investors hope is a return…
From The Report: Egypt 2018
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Despite the economic challenges facing the country, 2017 was a positive year for the Egyptian Exchange (EGX), with the main index expanding by approximately 17%. The EGX remains an important component of the economy and thanks to an ongoing process of market development is likely to continue to act as a useful platform for both corporates and small and medium-sized enterprises wishing to raise capital. The ability of the EGX to attract new listings and investors is linked to the wider question of Egypt’s macroeconomic performance. A potential commodities exchange would represent a key structural advance, although a number of important questions regarding its implementation remain to be answered.
This chapter contains interviews with Mohamed Farid Saleh, Chairman, Egyptian Stock Exchange; and Hussein Choucri, Chairman and Managing Director, HC Securities & Investment. The chapter also contains share analyses & data provided by HC Securities & Investment.