EGX Reviewing The Proposal From AfDB For Listing AFMI Bloomberg African Bond Index (ABABI) On Its Platform

Mohamed Farid, EGX Chairman, expressed his interest on listing new products in the Egyptian Market attracting new investors as long it is compatible with the Egyptian rules.

He said that EGX’s team is working on reviewing the possibility of listing AFMI Bloomberg African Bond Index (ABABI) which include eight African countries.
Meetings in this regard were held with The African Development Bank (AfDB) mission to discuss prospect listing of AFMI Bloomberg African Bond Index (ABABI). Attending these meetings were representatives from the Central Bank of Egypt, Financial Regulatory Authority (FRA) as well as EGX representatives.
The meetings also discussed regarding the African Exchanges Linkage Project (AELP) between the Egyptian Exchange and the African Exchanges and also reviewing the possibility of link all the African brokerage firms in order to increase cooperation between the African Exchanges.

For her part Ms. Malinne Blomberg, country Manager of AfDB in Egypt and the head of the AfDB delegation, commented on the important role of AFMI Bloomberg African Bond Index (ABABI) to enhance liquidity and transparency in government debt instruments market. She added that The AfDB held a series of meetings with the Egyptian side since last April to discuss opportunities to strengthen cooperation between African stock exchanges through the ABABI and AELP linkage project. These initiatives are intended to link the Egyptian-African stock exchanges to increase inter-regional investments between African stock exchanges.