The Egyptian Exchange (EGX) is still set to see more fresh listing this year, with EGX chairman Mohamed Farid saying that a third offering was delayed but is still expected to be executed by the end of the year.

At the first forum of heads of African investment commissions, Farid told reporters that more initial public offerings (IPOs) are expected during the second half (H2) of the year, with 4-5 private sector companies recently discussing listing on EGX.

Banque du Caire is currently the highest profiled listing to be delayed this year, pausing their IPO after the required listing of shares before the offering is priced and trading can begin.

Farid also pointed to the importance of enhancing African cooperation in investment fields and establishing measurable and achievable goals, noting that strengthening inter-African investments is a current necessity.

He also emphasized the importance of integration between African exchange markets and brokerage companies through digital solutions, which would allow for better flow of investments and create an environment that caters to the needs and ambitions of all investors.

“Inter-African securities trading requires integration between exchanges and brokerage firms through electronic linking that allow flow of investments and trading in an ecosystem that meets the requirements of all investors, which in turn will boost liquidity and trading between African exchanges,” said the EGX Chairman.

Economic growth needs investments and investments needs financing, stressed Farid, highlighting the stock exchange markets as important financing platforms for building needed capital to expand and grow and creating job opportunities.

A platform connecting Africa’s various stock exchange is already in the works, he stated, which would include companies working in the field of securities brokerage, with the Egyptian Exchange’s participation.

The platform’s aim is to provide more accessibility for any African citizen to invest in exchanges across the continent.

Farid also held meetings with the leaders of the African Export-Import Bank (Afreximbank), African Development Bank (AfDB), and the head of the African Continental Free Trade Area on the sidelines of the forum, discussing efforts to help African economies achieve their economic and social development goals.