The performance of the Nile Stock Exchange (NILEX) over 2013 and into 2014 suggests that it has broken through the inertia that plagues many new secondary boards in stock exchanges. Established in 2010 as a sub-market for mid- and small-cap firms wishing to access liquidity through the exchange, the NILEX had to contend in its first year of business with low trading...
Given the fallout from the revolution of 2011, the management of the Egyptian Exchange (EGX) focused heavily on short-term challenges and adjusting market operations in order to safeguard the exchange. T+0 settlement was suspended, which brought intraday trading to an end, the pre-trading mechanism used to quote stocks’ guide prices was halted and price fluctuation caps...
Given Egypt’s structural fiscal deficit, and the time required to carry out the necessary reforms to resolve it (see analysis), the nation has been compelled to seek external assistance in order to meet its budgetary commitments. A long-term financing arrangement offered by the IMF in the wake of the 2011 revolution has been the subject of heated political debate over...
Speaking to local press in April 2014, former petroleum minister Osama Kamal summed up the government’s dilemma regarding subsidy reform, “There is no nice time to cut subsidies, but the government has to.” Successive governments have learnt the hard way the costs associated with tampering with Egypt’s unwieldy subsidy system. Anwar Sadat’s attempts in 1977 to reduce...
With elections over, Egypt’s economy is showing signs of an incipient recovery. After three years of stagnation the IMF anticipates GDP growth will reach 3.5% by 2015, although much of this may be making up for lost time. The new government has outlined an ambitious vision for the future development of the country, and taken the first steps towards solving a structural...
Although estimates vary, sources such as the OECD and Egypt’s General Authority for Investment and Free Zones (GAFI), the Ministry of Investment’s promotion agency, assert that small and medium-sized enterprises (SMEs) account for between 80% and 90% of total businesses, and between 75% and 80% of employment. However, the development of SMEs has been hindered by...
Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.
Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.
Register Here×