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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?

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