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Rami El-Dokany, Executive Chairman of the Egyptian Exchange (EGX) met with Dr. Sherif Farouk Chairman of Egyptian Post Authority to discuss means of cooperation in the presence of all executive heads from both sides.
Rami El-Dokany, pointed out that the role played by EGX as a platform providing finance to growing businesses in various sectors, and focus on attracting more foreign investments which in turn supports the economic and social development plans.
During the meeting, EGX Chairman stressed the importance of the government investments role in supporting liquidity, increase institutional investment, attract foreign investors, and benefit from the current price levels of listed companies.
Noting that the P/E ratio at EGX is the lowest among Arab exchanges and the dividend yield is the highest.
El-Dokany added that despite the current lack of liquidity in the market, EGX is characterized by diversity and activity among other markets, pointing out that the turnover is the highest among Arab exchanges this year.
He pointed out that the government IPO program represents a fundamental pillar for the revitalization of EGX, stressing that the current period requires working to restore the confidence of the foreign & local investor and working to increase trades values and volumes with the activation of the role of Egyptian institutions to motivate the capital market. He stressed on the full coordination between the Financial Regulatory Authority (FRA) and EGX to overcome obstacles that would negatively affect EGX.
Dr. Sherif Farouk Chairman of Egypt Post stressed their keenness for cooperation with all related entities to maximize the investments of the Egyptian Post and make the most of them, explaining that this meeting aims to discuss cooperation opportunities between the Egyptian Post and EGX.
The meeting discussed the strategy of the Post for Investment Company and its subsidiaries, the opportunities for Egyptian Post investments at EGX and how to increase and benefit from them. In addition to the possibility of promoting investment funds through post offices spread throughout the Republic.
Dr. Sherif Farouk pointed out that the role of financial technology in attracting new categories of investors should be strengthened, with the continuation of financial literacy and the creation of new tools that will allow small investors to invest as well as work to increase the rates of financial literacy among citizens and raise their awareness of how to trade and invest in the stock exchange through various media channels.
Dr. Sherif Farouk called the Egyptian Post heads to discuss how to benefit from EGX as a financial platform for subsidiaries of the Egyptian Post through listing and offering, directing to the continuation of consultation and meetings between the working teams of the two sides for the benefit of both parties during the coming period.
