The Egyptian Exchange (EGX) needs more listings to help with providing sufficient market liquidity,\u00a0Naguib Sawiris said during Hapi Conference on Monday.<\/p>\n
Investors are afraid to enter the market as it is relatively small in size. There isn\u2019t enough liquidity,\u00a0the\u00a0billionaire businessman explained.<\/p>\n
Countries like the UAE and Saudi Arabia allocate tens of millions to invest in Egypt, which could help grow the stock market, he added.<\/p>\n
The businessman stated that Ora Developers is not against listing its shares on\u00a0EGX, but will have to go through more procedures before taking this step.<\/p>\n
Sawiris, meanwhile, said the government has to provide loans and offer integrated projects that are granted permits to be utilized and help attract foreign investors. Local banks can play a major role in financing, he said, adding that Egyptian banks are better than offshore banks.<\/p>\n
Sawiris is currently in talks with an unnamed investor that owns a land plot in Sohag to implement a housing project that targets\u00a0low- or medium-income segments.<\/p>\n
He also noted that both Ora and Orascom are considering collaborations.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Egyptian Exchange (EGX) needs more listings to help with providing sufficient market liquidity,\u00a0Naguib Sawiris said during Hapi Conference on Monday.<\/p>\n","protected":false},"author":4,"featured_media":320324,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33,23],"tags":[127],"class_list":["post-321777","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-main","category-money-markets","tag-egx"],"yoast_head":"\n