EGX receives 6800 new investors since January: Chairman

BY

-

Thu, 12 Apr 2018 - 07:00 GMT

BY

Thu, 12 Apr 2018 - 07:00 GMT

 EGX - File Photo

EGX - File Photo

CAIRO – 12 April 2018: Since the beginning of 2018, the Egyptian Exchange has attracted around 6800 new investors with an average of 100 newly coded per day, Chairman of the EGX Mohamed Farid said.

Last year, the EGX received 22,000 new investors, marking an increase of 29 percent, compared to 17,000 a year earlier, he added in an interview with Business Today.

"We saw remarkable improvement in performance in 2017. Our benchmark index EGX30 was ranked first among Arab markets after soaring 22 percent, while the EGX70 and EGX 100 indices climbed79 percent and 80 percent, respectively," he said.

Farid attributed this improvement to the launch or Egypt's economic reform program in November 2016, in addition to promotional campaigns organized by the EGX which helped restore confidence in the Egyptian market.

"Foreign investors’ purchases in the EGX recorded a significant leap to reach LE 7.5 billion in 2017 and [a total of] LE 13 billion since the float, compared to LE 1.3 billion in the 14 months prior to the float," he added.

Comments

0

Leave a Comment

Be Social