Cairo - Mubasher: The Egyptian capital market has witnessed a leap in the value of issued securities in the primary market, rising to more than EGP 500 billion during the 2017-2020 period, the Financial Regulatory Authority's (FRA) Chairman, Mohamed Omran, revealed.
During a press conference on Tuesday. Omran said that the value of capital amendments and reductions reached EGP 714 billion during the four-year period, while the value of securitised bonds registered EGP 56 billion, including EGP 25 billion during 2020, the largest value of securitisations in the history of the Egyptian capital market.
Meanwhile, the main EGX30 index declined by 28% to 10,854.3 points at the end of 2020, compared to 15,019 points at the end of 2017.
Over the four-year period, the market's turnover grew to EGP 689.6 billion from EGP 333 billion, while the market cap value fell to EGP 649.9 billion from EGP 685 billion.
The total value of mortgage funding offered by mortgage companies surged to EGP 3.4 billion in 2020 from EGP 1.5 billion in 2017.
In the meantime, the value of financial leasing contracts jumped to EGP 59 billion last year from EGP 29 billion in 2017, while the value of factored securities soared by 27% over four years to EGP 11.3 billion from EGP 9 billion.
Moreover, the value of micro-funding balances hiked to EGP 19 billion in 2020 from EGP 7 billion in 2017.
During the 2017-2020 period, net investments of the insurance activity rose by 26% to EGP 108 billion from EGP 86 billion.
The value of investments of private insurance funds reached EGP 83 billion in 2020, up by 36% from EGP 61 billion in 2017.
