EGX Signs A Memorandum Of Understanding (MOU) With Ministry Of Public Business Sector For Capacity Building Of Investors Relations Managers

The Egyptian Exchange (EGX) signed today, Monday 19th of August 2019, a Memorandum of Understanding with Ministry of Public Business Sector of Egypt to cooperate in capacity building activities for Investor Relations Managers of the Ministry’s companies.
 
Mohamed Farid, EGX Chairman, stated that signing this MOU aims to strengthen the level of communication between the companies and shareholders thus improving the quality of disclosure of listed companies as well governance standers of public sectors companies.
 
Hesham Tewfik, Ministry of the Public Business Sector confirmed that this MOU is an important step for raising related managers’ abilities and consequently increase the ownership of the government companies at the capital market.
 
He added that the training stated as per this MOU will include 56 companies working under law no.203 of the public business sector.  First training will be conducted at end of this month will include 15 trainees.  He continued that another training program will be conducted to acquaint the executives of the beneficiary companies with the importance role of the Investors relations managers.  EGX will provide the education curriculum of all programs.
 
Farid concluded that increasing the level of communication between investors and Investors Relations Managers is important to maintain company's reputation adding that these activities will raise Investors Relations Managers awareness of the impact of the economic variables on their companies.