Rami El-Dokkani, head of the Egyptian Stock Exchange, highlighted the achievements accomplished in recent times.
Rami El-Dokkani, head of the Egyptian Stock Exchange, highlighted the achievements accomplished in recent times - File Photo
Rami El-Dokkani, the Head of the Egyptian Stock Exchange, revealed the key pillars of the exchange's management plan for the upcoming period.
The plan includes the activation of the financial derivatives market, expected to be launched by the end of the third quarter of this year. It also aims to boost demand by maximizing institutional investments and expanding the individual investor base to reach global benchmarks.
These announcements were made during a virtual meeting between Rami El-Dokkani, Head of the Egyptian Stock Exchange, and 40 heads of brokerage firms in the securities market.
The extensive meeting, organized through modern communication technologies, provided a platform for in-depth discussions.
El-Dakkani emphasized the importance of continuous communication between the Egyptian Stock Exchange management and all brokerage firms operating within the exchange.
These brokerage firms are considered the cornerstone of the capital market activities.
During the meeting, El-Dakkani highlighted the achievements accomplished in recent times, notably the continuous increase in the number of new investors.
In the first half of 2023 alone, the number of new investors reached approximately 224,000, bringing the total number of registered investors to over 740,000.
The Head of the Stock Exchange reaffirmed the Egyptian market's capacity to accommodate offerings of any scale whenever the relevant government committee announces the schedule and timing. He also emphasized the market's readiness to absorb private sector offerings currently under preparation.
Additionally, the discussion focused on proposed steps to change the stereotypical perception of the stock market.
The aim is to modify the communication approach directed towards current and prospective investors, adopting a more modern and realistic style.
Attendees exchanged opinions on promotional strategies to attract new investors from all regions of the country and across diverse demographics.
Egypt's capital market has witnessed significant developments and reforms in recent years, bolstering investor confidence and attracting both domestic and international interest.
The continuous efforts to enhance market infrastructure, expand investor participation, and diversify financial products contribute to the market's resilience and long-term growth potential.
