Financial institutions capture 75 % of registered investors at EGX

Financial institutions captured 75 percent of the registered investors at the Egyptian Exchange (EGX) by the end of May 2018.

The Egyptian Exchange announced that this percentage reflects the confidence of foreign portfolios in the Egyptian market

This came as a result of the bold economic reforms implemented by the Egyptian government since November 2016, which contributed to restoring macroeconomic stability and bolstered the participation of the private sector.

Egypt floated its currency in November 2016, losing 50 percent of its value as a part of an economic reform program.

Egypt embarked on a bold economic reform program that includes floating its currency, cutting energy subsidies and introducing new taxes to cut the budget deficit.

On the other hand, according to EGX survey, “Classification of registered brokers on EGX by end of Ma, 98 percent of individual investors are Egyptians and 2 percent are foreigners.

As per Organizations, the survey revealed that 75 percent are foreigners and the other 25 percent are Egyptians.

Net foreign contributions to the Egyptian stock market reached 29 billion Egyptian pounds since since liberalization of the Egyptian currency and lowering energy subsidy in November 2016, the statement read.

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