In a move aimed at integrating sports with the economy and enhancing investment opportunities in the sports sector, The Egyptian Exchange (EGX) signed a cooperation protocol with the Ministry of Youth and Sports on Monday, January 20, 2025.
The signing ceremony took place at EGX's historical building in Downtown Cairo, attended by Dr. Ashraf Sobhy, Minister of Youth and Sports, Mr. Ahmed El-Sheikh, Chairman of EGX, along with senior officials from the Ministry and EGX, media representatives, and heads of specialized sports federations.
The protocol was signed by Major General Ehab Beshir, Permanent Undersecretary of the Ministry of Youth and Sports, and Ms. Heba El-Serafi, Vice Chairperson of EGX.
Mr. Ahmed El-Sheikh, Chairman of EGX, stated: The signing of this protocol reflects our strong belief in the importance of enhancing cooperation between EGX and state institutions, particularly those that serve society by raising awareness and competence among their members and stakeholders. It aims to integrate all segments of Egyptian society into sharing the benefits of economic development.
He added: We will work together to provide educational courses for individuals in the sports field, including those from sports institutions. We will also launch a national initiative titled 'EGX for Everyone,' aimed at introducing sports club members and youth center participants to introduce them to the stock market, increase financial literacy, and promoting investments in sports. Furthermore, we aim to foster a culture of saving and investing in EGX through both practical and theoretical training on trading.
The cooperation protocol between the Ministry of Youth and Sports and EGX seeks to integrate sports with the economy and enhance investment opportunities with in the sports sector.
As part of Egypt's national directives to promote financial inclusion and change the mindset of the youth, Dr. Ashraf Sobhy, Minister of Youth and Sports, emphasized that the ministry operates under a comprehensive strategy aimed at integrating youth into the economic system and enhancing their role in building a vibrant and active society. This initiative aligns with the vision of the New Republic and the directives of President Abdel Fattah El-Sisi.
Dr. Sobhy revealed the ministry’s aspirations for broader cooperation with The Egyptian Exchange through the Egyptian Federation for Sports Events. He announced plans for a large-scale national project aimed to economically engaging youth and raising their investment awareness.
The Minister also extended his gratitude to the Federation for Sports Events for its pivotal role in the joint protocol with EGX. He commended the federation as one of the newly established entities comprised of elite professionals with an advanced economic perspective in organizing sports events, aligning with the ministry's sustainable development strategy.
Dr. Sobhy reaffirmed that the Egyptian state fully supports youth through all available means, recognizing the importance of their economic and societal empowerment. He emphasized that the ministry prioritizes the economic aspects of sports, contributing to the developments of a better future for upcoming generations and enhancing Egypt’s position on the global sports stage.
The Minister also commended the outstanding performance of the Egyptian handball team in the World Championship, expressing pride in the achievements of Egyptian teams. He stressed that such excellence is not a coincidence but a result of systematic planning and continuous efforts to develop Egyptian sports across all levels since 2018.
Additionally, the protocol includes organizing events for sports media, financial literacy campaigns, and financial awareness initiatives, in collaboration with EGX and the Egyptian Federation for Sports Events.
The events also featured the launch of awareness-raising courses for sports journalists on sports investments and the media’s role in highlighting such partnerships contributing to sustainable development in Egypt's sports sector.
