• Wednesday, 7 April 2021

    Retail subscription is on for Macro Group IPO

    Retail investors who want shares of Macro Group's IPO on the Egyptian Exchange can start placing their orders as of this Sunday, 11 April, after the Financial Regulatory Authority (FRA) approved the company’s prospectus yesterday, according to a disclosure (pdf)...
  • Wednesday, 7 April 2021

    Cabinet approves draft bill to regulate fintech industry

    The draft law that will govern the fintech space received approval from the Madbouly cabinet in its weekly meeting yesterday, cabinet said in a statement. The new law would regulate the use of fintech to deliver non-banking financial services (NBFS)...
  • Sunday, 4 April 2021

    FRA introduces new regulations on margin trading

    The EGX30 fell 1.4% at today’s close on turnover of EGP 789 mn (45.2% below the 90-day average). Foreign investors were net sellers. The index is down 4.0% YTD.In the green: Eastern Co. (+1.6%) and Oriental Weavers (+0.3%).In the red:...
  • Sunday, 4 April 2021

    Brokerages call for restrictions on margin trading

    Market players proposed introducing restrictions on margin trading during a meeting with the Financial Regulatory Authority (FRA) last week, the regulator said in a statement (pdf) yesterday. Representatives from a handful of brokerages and custodians called for regulators to put...
  • Thursday, 1 April 2021

    Women made up only 13% of board seats in Egypt’s companies in 2020

    Women made up only 13% of board seats in Egypt’s companies in 2020, with a total of 714 holding seats, up 30% y-o-y from 2019, the Women on Boards Observatory annual report states. Just over 57% of EGX-listed companies have...
  • Thursday, 1 April 2021

    Tamweely is getting closer to a booster

    Microfinance player Tamweely could soon secure a EGP 100 mn loan from the European Bank for Reconstruction and Development to boost its microfinance portfolio, Chairman Amr AbouElazm said at a presser yesterday, according to Masrawy. AbouElazm didn’t offer any other...
  • Tuesday, 30 March 2021

    New boardroom rules for clearing, depository service providers

    Egypt’s three clearing and depository companies will need to run their board elections under new rules announced by the Financial Regulatory Authority yesterday. The rules come as executive regulations to enact boardroom guidelines that were originally announced by the authority...
  • Wednesday, 24 March 2021

    Good news, brokerage firms

    The EGX30 rose 2.2% at today’s close on turnover of EGP 1.12 bn (24% below the 90-day average). Regional investors were net sellers. The index is down 1.3% YTD.In the green: MM Group (+5.9%), Ibnsina Pharma (+5.8%) and Abu Qir...
  • Wednesday, 24 March 2021

    Also on our Radar on 24 March 2021

    A syndicate of domestic banks has agreed to almost double the value of a loan taken on by the Saudi Egyptian Construction Company to fund several projects, mainly in New Damietta, according to CEO Mohamed Taher. The company will now...

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