The main stock index “EGX30” rose during the month of January by 12.66 percent, to reach the level of 16446.38 points.
The “EGX 100” index rose by 4.64 percent, to close at 4,337.77 points.
According to a statement by the Egyptian Stock Exchange, the total trading value during the month amounted to about 78.3 billion pounds (about 258 million dollars).
Egyptians’ transactions recorded 83.9 percent of total transactions on listed shares, while Arab investors accounted for 8.2 percent of transactions, and foreigners accounted for 8 percent.
In early February, Egyptian Prime Minister Mostafa Madbouly said that the government hopes to announce a plan to offer stakes in at least 20 companies on the stock exchange for the first time, provided that this is implemented over a year.
Egypt is seeking to offer a group of government companies on the stock exchange as part of its plans to expand the ownership base and attract foreign investments to the money market, at a time when the country suffers from a scarcity of hard currency.
Madbouly said, on Wednesday, “The whole goal… is more participation of citizens and the private sector in the development process and participation in the management and ownership of part of the public institutions that were owned by the state,” adding that the detailed plan may be announced after the next cabinet meeting.
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