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Egypt Presides The African Stock Exchanges Association (ASEA)

Date 20/09/2005

Cairo & Alexandria Stock Exchanges (CASE) Chairman, Mr. Maged Shawky was elected to be the President of the African Stock Exchanges Association (ASEA) at the end of the ASEA 9th conference, which took place on 10-12 September 2005 in Cairo.

The association, which currently comprises of 18 member exchanges, holds annual conferences- eight conferences have been held ever since ASEA inception- which offer an opportunity for members to interact and discuss the growth of their respective capital markets.

Several key issues that help developing and growing the African markets were addressed in the ASEA 9th conference. These include: the capital market development and economic growth, the growing concern of corporate governance, the technological advancement as well as the product innovation in the African markets.

Worth mentioning that Egypt was chosen to be the host country for the 9th conference, given the strategic vital role it plays in the continent. This in turn will enable Egypt to open up and explore new investment fields in Africa and to build new communication channels with the member exchanges and the market participants in the African continent. Besides, Egypt will ensure that information related to the Egyptian capital market is properly disseminated to the member countries and will offer them assistance in terms of stock exchange systems and IT solutions needed, together with the necessary training programs.