Egypt bourse market cap climbs 40% in 2016: official

The market capitalisation of listed companies in Egypt have witnessed a 40 percent leap to exceed 600 billion Egyptian pounds ($31.6 billion) throughout 2016, Egyptian bourse chairman said Tuesday.

This number is the highest since 2008, buoyed by the government’s recent decisions, notably the liberalisation of the Egyptian pound exchange rate to foreign currencies, Mohamed Omran said in a conference in Cairo.