The Egyptian Exchange (EGX) has continued its efforts to attract new companies to list on the Egyptian main market or in NILEX market for small and medium companies.

Mohammed Omran, EGX Chairman, said that EGX main challenge is changing the community culture that overlook the important role of the Stock Exchange in financing companies and help them to expand, and thus achieve higher economic growth rates.

In the last few days EGX participated in two meetings targeting the Egyptian Junior Business Association (EJB) and 10th of Ramadan Businessmen association in presence of a large number of promising companies.

EGX management said that those meetings came in the context of EGX strategy for the period (2014-2017), which contains a general hub to inform the business community about the opportunities available for funding within the market, where EGX cooperates with the business organizations to access larger segment of companies from different governorates, whether large, medium or small companies.

Omran said that establishing the strategic planning and management by objectives principles helped to increase EGX work efficiency.

“A clear goal was set for EGX team at the beginning of the year which is to list ten new companies during 2014, both in the main market and in NILEX,” he said.

“And despite the exceptional circumstances witnessed by the market, we exceeded our target, by listing 13 new companies during 2014, which is considered as a valuable addition for the market depth, and one of the highest annual listed companies increase rates from a number of years. So the total funding provided to increase the companies’ capital was more than LE 11 bn during the last 14 months,” he added.