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The Egyptian Exchange’s roadshow “EGX for Development” continued its activities by visiting Sohag governorate. This awareness activity is under the auspices of Dr. Mustafa Madbouli, Egyptian Prime Minister. The workshop comes within the framework of EGX management’s keenness to support potential companies operating in the provinces of Egypt in various sectors and economic activities through providing SMEs with the financing needed for their growth.
The event was attended by Major General Tarek El-Feki, Governor of Sohag, Dr. Mohamed Farid Saleh, Executive Chairman of EGX, Dr. Mostafa Abdel-Khaleq, President of Sohag University, Mr. Ahmed Sami El-Qadi, Deputy Governor, Ahmed El-Sheikh, Vice Chairman of EGX, Mr. Mohamed El-Sayyad, Assistant Chairman for Listing Affairs & Listing Sector Supervisor , Mr. Ahmed Abu El-Saad ,Professor Dalia Al-Sawah, and Ms. Rania Yaqoub, EGX board members, addition to a group of businessmen's in Sohag.
The workshop discussed financing, financial, business, trade and investment community in the province as well as university students, to serve as a platform for dialogue and communication with financial and business groups in various provinces, especially small and medium-sized provinces to inform them of the advantages and procedures of registration, offering and trading, and how to benefit from the financial market in accessing the financing needed for growth, expansion and achieving their goals, as well as spreading the culture of savings and investment, in line with the goals and vision of the Management of the Egyptian Stock Exchange, which aims to enhance liquidity as well as increase Number of companies restricted provided they have success stories and growth.
Dr. Mohamed Farid, Executive Chairman of EGX, reviewed the comprehensive economic reform program implemented by the Egyptian government, which included financial, monetary and structural reform to protect the less fortunate, most important of which is the Solidarity and Dignity Program. He stressed the goals this reform plan helped in achieving, namely; the stability of macroeconomic indicators, achieving positive and rising growth rates, and strengthening the role of the private sector.
He added that financial markets play a vital role not only in assisting the various economic entities accessing financing for growth and providing new jobs, but also as an important platform for trading and investment.
He stressed the effort exerted by EGX management to enhance liquidity, through launching an awareness campaign on financial literacy, as well as developing financial products and mechanisms, including short selling, market maker, and simplifying many of the procedures necessary for investment and trading, which resulted an increase of number of newly coded investors in 2021 to 59k, compared to 22k in 2020.
Major General Tariq El-Feki, Governor of Sohag, welcomed EGX’s team stressing that it represents an important opportunity for the business entities in Sohag enabling the financial and business community to develop and achieve their goals to serve Sohag community.
During the workshop, Mr. Mohamed El-Sayyad, Assistant Chairman for Listing Affairs & Listing Sector Supervisor, reviewed the listing process on EGX platforms, stressing on the advantages of listing in the capital market through diversifying their sources of financing and their transformation to an institutional entity abiding to sustainability and governance standards.
