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The Egyptian Exchange (EGX) held the 9th edition of the "EGX for Development” Forum in Sharqia Governorate on Tuesday, November 19, 2024.
Hazem El-Ashmouny, Governor of Sharqia, and Ahmed El-Sheikh, Chairman of EGX, participated in the forum, which was organized in collaboration between the governorate and EGX, under the auspices of his Excellency Dr. Mostafa Madbouly, the Prime Minister. The forum was also attended by Dr.
Khaled El-Darandaly, Chairman of Zagazig University, Dr. Ahmed AbdelMaati, and Lobna Abdel-Aziz, Vice Governors, the military adviser to the governorate, along with EGX top management and several public and economic figures from the governorate, as well as investors.
Ahmed El-Sheikh outlined EGX's role in the national economy, emphasizing its support for economic entities and promoting of financial literacy across various sectors. He pointed out that listing on EGX helps protect companies’ sustainability and provides the necessary governance for sustainable growth. He urged owners of companies and ambitious projects to consider listing on EGX to ensure the continuity and development of their projects, thereby supporting the national economy.
EGX Chairman further stated that financial markets provide a variety of opportunities for individuals and companies to diversify their sources of funding. He emphasized the importance of enhancing investment awareness and changing public perception of EGX, particularly among youth, describing it as a tool for achieving economic development rather than merely for speculative trading.
The Chairman also highlighted EGX's commitment to promoting financial literacy among university students by delivering lectures and preparing and distributing educational materials on the principles of EGX and investment. These efforts also include the use of EGX simulation models such as STOCKRIDERS. He praised the strategy adopted by Zagazig University to foster collaborative efforts and make optimal use of available resources.
EGX Chairman also delivered a detailed presentation on the advantages of listing on EGX, emphasizing the importance of diversifying funding sources for ambitious companies. He noted that successful companies would benefit from increased financing opportunities and the ability to attract more investments.
The Governor of Sharqia delivered a speech welcoming EGX Chairman, affirming that the visit was an excellent opportunity to strengthen cooperation and support national efforts in development and investment. He highlighted that the governorate provides a fertile environment for investment, with abundant opportunities in agriculture, industry, and tourism.
The Governor further stated that Sharqia, with its resources and capabilities, continually seeks to be an active partner in achieving Egypt's vision for sustainable development. He emphasizing that they fully recognize the vital role played by EGX as a leading economic platform that supports growth, enhances investment opportunities, and contributes to driving development.
The Governor expressed hope that this visit would lay the foundation for exchanging ideas and visions, working towards the creating of an attractive investment environment that opens up new avenues for fruitful cooperation in pursuit of common goals for a more prosperous future.
In his speech, Professor Dr. Khaled El-Darandaly, Chairman of Zagazig University, expressed his delight at the conference and the signing of a cooperation protocol with EGX. He noted that the university aims to equip students with financial knowledge through educational and training programs to help them make informed investment decisions.
Dr. El-Darandaly also emphasized that the university recognizes the importance of fostering an investment culture among youth as a key driver of national economic growth. He stated that the university would continue its effort to provide an educational environment that encourages financial innovation.
The conference featured the signing of a cooperation protocol between EGX, represented by Ahmed El-Sheikh, EGX Chairman, and Zagazig University, represented by Dr. Khaled El-Darandaly, Chairman of the University. This protocol aims to promote financial literacy among students and provide specialized training programs designed to raise financial awareness and encourage them to invest their savings in a secure financial environment. It also seeks to enhance students' understanding of investment principles, contributing to the development of a new generation of youth aspiring to economic success.
At the conclusion of the conference, the floor was opened for discussions, allowing attendees to ask questions and seek clarifications about how to list on EGX and the principles of investment. EGX Chairman addressed the attendees' questions, outlining the basic steps of the listing process, from the listing requirements to how companies prepare for listing, ensuring transparency and boosting investor confidence.
He also emphasized the importance of adhering to the regulations and standards that ensure the success of the listing and achievement the desired goals in joining the capital market, he highlighted the crucial role of EGX in supporting companies and increasing their funding sources, which enhances their sustainability and growth.
