The move reflects the Egyptian market’s ability to meet and exceed key international requirements, supported by a strong and expanding base of listed companies capable of complying with global standards and competing at both the regional and international levels.
FTSE Russell announced on Tuesday that Egypt and the Egyptian capital market have officially been removed from its Watch List after meeting the required international standards and criteria.
The move reflects the Egyptian market’s ability to meet and exceed key international requirements, supported by a strong and expanding base of listed companies capable of complying with global standards and competing at both the regional and international levels.
Omar Radwan, Chairman of the Egyptian Exchange (EGX), said Egypt’s removal from the Watch List represents another vote of confidence in the market’s resilience and its ability to navigate global challenges, pressures and changing conditions.
He noted that the strength of a financial market is measured not only by its performance under normal conditions, but also by its ability to maintain efficiency and attractiveness while recovering and adapting during periods of uncertainty.
Radwan said the Egyptian market has faced a range of challenges and shifts in recent years, providing a real-world test of its resilience and ability to withstand pressure.
He added that these challenges can be viewed as a practical stress test that demonstrated the market’s capacity to adapt to changing conditions. Such resilience is an important factor for international investors when assessing a market’s attractiveness, its ability to absorb shocks, and the capacity of listed companies to withstand pressure, adapt and continue growing.
Radwan highlighted Egypt’s strong and diversified base of listed companies, spanning different sizes, sectors and business models. A growing number of these companies have successfully met or exceeded international standards.
He said these companies do not necessarily need to rebuild their capabilities, but rather require greater visibility and transparency among international investors to better showcase the opportunities they offer.
In this context, three major Egyptian companies have successfully surpassed the requirements for the mid-cap category, marking an important development that reflects the growing depth of the market and the strength of its listed companies.
Talaat Moustafa Group and Telecom Egypt joined Commercial International Bank in meeting these requirements, strengthening the presence of Egyptian companies within emerging-market indices and broadening their potential investor base.
Radwan stressed that the objective is not simply to increase the number of companies meeting international standards, but to build a market with a broader base of companies capable of exceeding those standards, enhancing their competitiveness and improving their access to global capital.
He said Egypt’s removal from the Watch List represents an important milestone in the development of the country’s capital market, but not the end of the journey.
Efforts will continue to deepen the market, strengthen its competitiveness, broaden the investor base and increase the international visibility of Egyptian listed companies, alongside further development of financial products and services, technological infrastructure, trading mechanisms and disclosure practices.
“What has been achieved today confirms the strength of the foundations underpinning Egypt’s capital market,” Radwan said. “The market has faced real challenges, dealt with them and demonstrated its ability to withstand pressure and adapt. Today, we are focused on turning that resilience into opportunities and translating the strength of our listed companies into greater international visibility and investment. What has been achieved so far is only the beginning of what is to come.”
