The Clap
FRA Chairman Dr. Mohamed Omran announced plans to increase the EGX’s market cap to EGP 1.6 trillion (87 billion dollars) by 2026.
Claps Class
Market cap is the combined market value of all EGX-listed companies.
The deets
Dr. Omran said that the EGP 1.6 trillion can even be passed, as listing the New Administrative Capital Company on the EGX could raise the market cap to EGP 2.6 trillion.
Dr. Omran also pointed to the growth of the consumer finance activity sector, expecting it to reach EGP 50 billion by 2026.
Why this matters
The Egyptian government announced its plan to raise the participation of the private sector in the economy, with attracting investments worth 40 billion pounds over 4 years, and listing a number of government companies on the stock exchange.
To read the FRA’s full strategy, click here.
