{"id":325573,"date":"2022-05-31T13:43:28","date_gmt":"2022-05-31T13:43:28","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=325573"},"modified":"2022-05-31T13:43:28","modified_gmt":"2022-05-31T13:43:28","slug":"fra-wants-to-see-the-egxs-market-cap-more-than-double-by-2026","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/05\/31\/fra-wants-to-see-the-egxs-market-cap-more-than-double-by-2026\/","title":{"rendered":"FRA wants to see the EGX\u2019s market cap more than double by 2026"},"content":{"rendered":"<p>The Financial Regulatory Authority (FRA) wants to see the EGX\u2019s market cap more than double to EGP 1.6 tn by 2026, according to its newly published four-year strategy<\/p>\n<p><strong>This will require almost EGP 1 tn to enter the market over the next four years:<\/strong> The bourse\u2019s current market cap \u2014 across stocks, bonds, funds, OTC trades, and the SME market \u2014 is around EGP 660 bn.<\/p>\n<p><strong>This aligns with a recent policy statement from the president:<\/strong> President Abdel Fattah El Sisi said recently that the government is working on a set of measures aimed at doubling the size of the bourse. This is part of a wider economic strategy announced by the president, which also includes bringing in USD 40 bn in fresh investment over the next four years and reducing the public debt and the deficit by 2026.<\/p>\n<p><strong>Where\u2019s the money coming from?<\/strong><\/p>\n<p>The FRA thinks that the sale of state assets could push the EGX\u2019s market cap as high as EGP 2.6 tn \u2014 and name-checks the potential IPO of the state-owned new capital developer, the Administrative Capital for Urban Development. The government wants to list a number of state- and military-owned companies on the bourse <a href=\"https:\/\/enterprise.press\/stories\/2022\/05\/16\/madbouly-announces-plans-to-privatize-state-assets-boost-private-investment-71163\/\">before the end of the year<\/a> as part of its new privatization strategy.<\/p>\n<p><strong>The target isn\u2019t new: <\/strong>The FRA had originally hoped to hit the EGP 1.6 bn mark by this year, according to its previous strategy in 2018.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Financial Regulatory Authority (FRA) wants to see the EGX\u2019s market cap more than double to EGP 1.6 tn by 2026, according to its newly published four-year strategy<\/p>\n","protected":false},"author":4,"featured_media":320765,"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-325573","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-main","category-money-markets","tag-egx"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - 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