EGX Chairman Discusses Opportunities for Entrepreneurship Growth through Capital Market

Mohamed Farid, Chairman of the Egyptian Stock Exchange (EGX) met with the board of directories of "Egypt Ventures", the first venture capital company with government investments, and Fatura and PayNas to discuss growth opportunities and increase their business through the Egyptian Stock Exchange.

Farid said in a statement on Wednesday that the meeting came within the framework of the stock exchange’s keenness to provide all aspects of support and assistance to the business community, especially emerging companies that provide solutions using information technology to fill gaps in various economic activities.

The meeting reviewed the extent to which it can help emerging companies to growth and expansion through stock exchanges.

Farid continued: "We were pleased to host intelligent young people who succeeded in transforming their ideas into reality, and we will work with them with enthusiasm to support their efforts to grow and increase the size of their business, providing job opportunities.

On his part, Ahmed Gomaa, Egypt Ventures Chairman praised the initiative, which supports the business environment of startups and help them grow and expand through stock market.

Gomaa stressed that the company contains government investments between the Ministry of International Cooperation and the General Investment Authority, which aims to invest in technology-backed companies, saying, "We are pleased to cooperate with the Egyptian Stock Exchange to discuss how to support emerging companies, especially in the field of IT, expecting more successes in this sector.

In the same context, Hossam Ali, CEO of "Fatura", a digital platform to connect wholesalers and manufacturers with retailers in various fields, said that the platform currently includes more than 50,000 retailers, expanding to include 21 Egyptian governorates.

Ali added that having an effective communication channels between startups and the stock exchange will facilitate the listing of startups.”

Mohamed Mounir, CEO of PayNas, said: "We are witnessing unprecedented support from all institutions and stakeholders, and a real commitment to support financial inclusion."