Foreigners invested EGP 7.4 bn in the EGX in 2017

Foreigners invested a net amount of EGP 7.4 bn (USD 414 mn) in the Egyptian stock market in 2017, according to Reuters. Since the EGP float in November 2016, foreigners have injected EGP 13 bn into the EGX. The EGX30 has increased 19% this year and “annual trading has exceeded EGP 292 bn,” EGX Chairman Mohamed Farid told reporters yesterday, according to the Associated Press. “Farid says the index has been the driving force behind making the Egyptian Exchange the top market in the Arab world.”