The Egyptian Exchange (EGX) on Sunday announced the launch of its first-ever mobile application, called The Egyptian Exchange.
Available in both Arabic and English, the app is designed to give investors and the public easier access to financial data and market news.
According to an EGX statement, the app initially offers “market news, data on listed securities, summaries of key indices, and notable movements.” It is currently available in beta on the Google Play Store, allowing users to test its features and provide feedback. An iOS version is yet to be released.
The launch comes as the Cairo bourse seeks to boost its visibility and expand its investor base. Several hundred companies are listed on the EGX, whose benchmark EGX 30 index tracks the performance of the 30 most active stocks.
The exchange’s market capitalisation recently hit a record 2.5 trillion Egyptian pounds (about €50 billion), driven both by rising valuations and the impact of inflation and currency depreciation, which inflate figures in local currency terms.
With the new mobile app, EGX aims to modernise its image and attract more retail investors in a country where stock market participation remains limited and savings are largely directed toward real estate and gold.
MK/ac/lb/as/APA