Back to the complete issue
Tuesday, 2 February 2021

EFG Hermes tops Egypt’s brokerage league table in January

EFG Hermes topped the EGX’s brokerage league table in January with a market share of 14.3%, according to EGX figures (pdf). Rounding out the top five: CI Capital (5.2%), Mubasher (5.2%), Beltone (5.1%), and Pioneers (5%).

Worth remembering: This distribution reflects the continued dominance of retail investors, who have “owned” trading on the EGX since early in the pandemic when saw international institutional shareholders sold down their positions as they fled EM globally. Pre-covid, EFG and CI were institutional powerhouses: EFG usually had a market share in the low-to-mid 20% range, while CI commanded mid-to-high teens. Instead, we’ve seen nearly 12 months now in which retail flows have been spread across dozens of ham-n-egger brokers.

Did you know? There are 130 licensed, active brokerage firms registered with the EGX — 142 if you include the ones whose licenses have been suspended. Shall we talk “consolidation,” ladies and gentlemen?

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.