Egypt exits FTSE Russell Watch List

Egypt’s capital market has been removed from FTSE Russell’s Watch List after meeting the international standards and requirements set by the global index provider, the Egyptian Exchange (EGX) said on Wednesday.

The move reflects the market’s ability to meet and exceed the required minimum thresholds, supported by a strong and growing base of listed companies capable of meeting international standards and competing at regional and international levels, the EGX said.

According to the EGX statement, three major Egyptian companies meet the mid-cap requirements, reflecting the market’s depth and the strength of its listed companies. They are Talaat Moustafa Group, Telecom Egypt, and Commercial International Bank (CIB).

EGX Chairman Omar Radwan said the goal is not limited to increasing the number of companies that meet international standards, but also to building a market with a broader base of companies capable of exceeding these standards, enhancing their competitiveness, and gaining access to global capital.

He affirmed that work would continue to deepen the market, enhance its competitiveness, broaden the investor base, and increase the international visibility of listed Egyptian companies, alongside developing financial products and services, technological infrastructure, and trading and disclosure mechanisms.