Capital Markets

The year of 2018 was challenging across the board for many emerging markets, and changing trends in global capital movements have brought turbulence to the Egyptian Exchange as well. After rising significantly in the first four months of 2018, the exchange’s main index, the EGX30, showed a sustained retrenchment to end the year at a level not seen since early 2017. Throughout this period, however, the authorities implemented a series of reforms that are establishing the bourse as a safer and more transparent destina¬tion for domestic and international investors. With forecasts for the country’s economy broadly positive, Egypt’s capital markets are well positioned to serve their purpose as facilitators of growth and develop-ment over the coming year. This chapter contains interviews with Mohamed Farid Saleh, Executive Chairman, Egyptian Exchange; and Hussein Choucri, Chairman and Managing Director, HC Securities & Investment.