الهيئة العامة للرقابة المالية

• FRA Vice Chairman: The Authority prioritizes promoting financial literacy to achieve financial inclusion
• Minister of youth: The Ministry has ambitious plans to modernize facilities and enhance service quality.
• EGX Chairman: Enhanced public financial literacy will positively influence the long-term stability and performance of financial markets
• Nandini Sukumar , Chief Executive Officer of the World Federation of Exchanges: The Egyptian Stock Exchange is committed to investor protection
• Recognizing Exchange ambassadors highlights EGX’s dedication to nurturing future financial leaders

Ahmed Elsheikh, EGX Chairman, Dr. Ashraf Sobhy, Minister of Youth and Sports, Mr. Mohamed El-Sayyad, Vice Chairman , Heba ElSerafi , EGX Vice Chairman, in addition to a number of leaders from the Egyptian Stock Exchange and public figures celebrate the inaugural of World Investor Week (WIW), Monday, October 2, 2024, by ringing the opening bell.

In his speech, Mr. Mohamed El-Sayyad, Vice Chairman stresses that the Authority’s strategy set financial literacy as a priority in order to achieve financial inclusion and enable individuals and companies to access non-banking financial services. Financial literacy is a cornerstone for the stability and growth of non-bank financial markets. It empowers individuals to make informed investment decisions and encourages greater participation in these markets.

Also, he asserts that the Authority has actively promoted financial literacy through partnerships with government ministries and universities. These partnerships have resulted in several initiatives, including cooperation agreements with universities to promote financial literacy, the publication of educational books titled ‘Know to Benefit,’ and the implementation of ‘TOT’ training programs for various societal groups. Moreover, approximately 500 school students have participated in financial education programs tailored to their age and educational level, which included games, educational activities, visual stories and workshop.

He adds that the Authority has actively participated in numerous conferences, lectures, and events to promote financial literacy. These initiatives have attracted approximately 5,000 participants from diverse backgrounds in 2024. Notable events include Cairo International Book Fair and Business Exhibition, where the Authority has engaged with citizens, particularly young people. Additionally, the Authority has offered training grants to university students across various departments in 2023 and 2024.

On the other hand, EGX Chairman emphasizes that the Exchange has expressed its commitment to regular participation in World Investor Week. This reflects EGX’s dedication to promoting financial literacy, raising awareness about financial markets, and fostering a deeper public understanding of financial concepts. He points out that all these will positively impact the long-term stability of financial markets by increasing investor participation, rationalizing investment decisions, and encouraging more companies to list on the Egyptian Stock Exchange.

“Aligned with EGX strategy, we will continue to invest in and support fintech as a key driver of financial market development. Fintech enables the creation and delivery of innovative financial and investment products, and it is particularly appealing to the younger generation of investors” EGX Chairman states.

EGX Chairman asserts that the Exchange will continue to prioritize financial literacy initiatives through ongoing collaborations with Egyptian universities. This includes leveraging existing cooperation agreements with institutions like Helwan University, Pharos University, Elgalala University, GUC and the European University, Upper Egypt Universities Alliance including Beni Suef, Fayoum and Menya Universities and the American University in Cairo.

Here are the most important initiatives:

• EGX Ambassadors Initiative is a financial literacy-training program designed to equip qualified students with the skills needed to conduct training sessions on investment principles at schools and universities.
• One-day training programs that provide a thorough overview of the stock market.
• Introductory and educational visits to the historic building and the Egyptian Stock Exchange Museum.
• Tailored programs for school students that combine practical lectures about the Egyptian Stock Exchange with hands-on experiences through partnerships with financial brokerage companies.
• Specialized training programs for social media influencers to equip them with the knowledge and skills

Dr. Ashraf Sobhy , Minister of Youth and Sports affirms that the Ministry  aligns with Egypt’s vision to promote a financially literate national economy ,enhance financial and digital inclusion and empower all segments of society to take control of their financial future through digital payments technology provided by the State and various financial inclusion services.

He adds that In line with the President’s directives, the Ministry is actively encouraging sports companies to explore investment opportunities in the sports sector, particularly through listings on the Egyptian Stock Exchange.

In addition, he states that the Ministry emphasizes the importance of sports investment based on sound scientific plans. He adds that the Minister has ambitious plans to modernize facilities and continuously enhance the quality and range of services.

Nandini Sukumar, Chief Executive Officer of the World Federation of Exchanges states: “EGX has always prioritized investor protection. We are committed to foster inclusive growth and promote the role of financial markets in sustainable economic development. By empowering market participants, we aim to build a stronger and more inclusive future for all.”

The Egyptian Exchange’s celebration of World Investor Week honored a new batch of graduates from the ‘EGX Ambassadors’ program from the British University, New Giza University, and the Egyptian Chinese University, who contributed to spreading financial literacy throughout 2024.

The Stock Exchange Ambassadors initiative is the first Train-the-Trainer (TOT) financial literacy program organized by the Egyptian Stock Exchange. It aims to equip qualified students specializing in investment and finance from Egyptian universities with the necessary skills to participate in training events organized by the Exchange in schools and universities. These events focus on explaining the fundamentals of investing in securities.

As part of the Stock Exchange Ambassadors program, students underwent intensive training in fundamental and technical analysis. They also learned about the inner workings of the Egyptian stock market. To provide practical experience, the Exchange offered simulation-based trading programs.

It is worth mentioning that the annual “Ring the Bell for Financial Literacy”, co-organized by the World Federation of Exchanges (WFE) and the IOSCO, was held during World Investor Week from October 7-13, 2024. This campaign highlights the crucial role of investor education and protection.