Sudan, Egypt Eye Dual Listing Activation between Markets

Sudan and Egypt are looking forward to activating the dual listing and the means of facilitating the trading in both markets. On Tuesday, Dr. Mohamed Omran, Chairman of The Egyptian Exchange (EGX), met with a delegation from Khartoum Stock Exchange (KSE), headed by Azhari El Tayeb, General Manager of KSE.

The meeting addressed the activation of the Memorandum of Understanding (MOU) signed between exchanges earlier; moreover, they discussed the dual listing and the means of facilitating the trading in both markets.

Also, EGX chairman stressed that implementing the MOU shall support the dual listing and facilitate the access of Sudanese investors to the Egyptian market, particularly with the specialty of the huge trading volume of EGX as well as the other trading tools. 

From his part, Mr. Azhari declared that the agreement represents an important step in the cooperation between the two markets, pointing out the desire of a large segment of the Sudanese investors to invest in the Egyptian market focusing on the fixed income tools. This is because the bonds’ daily trading volume in KSE acquires more than 90% of the daily trading aggregates. KSE general manager stated that activating the MOU allows the exchange of experiences between the two parties specifically the Sudanese side that will benefit from EGX progress in the corporate governance, market technological infrastructure as well as the rules governing brokerage firms.