Egyptian Exchange

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million US$

Egyptian Exchange

Name Egyptian Exchange
Country Egypt
Number of listed companies 242
Domestic market capitalization 35111 million US$
SSE Partner Exchange Yes
Has annual sustainability report Yes

In 2016 EGX, in collaboration with its Sustainability Advisory Committee (SAC) introduced the first annual sustainability report in accordance with the Global Reporting Initiative (GRI) G4 Standards (source).

The latest Sustainability report is from 2021 in Arabic

ESG reporting required as a listing rule Yes

  • In 2021, FRA issued resolutions requiring companies listed on the Egyptian Stock Exchange to submit environmental, social, and governance disclosure reports related to sustainability (ESG standards) source
  • Also, companies whose issued capital or net ownership rights are not less than 500 million Egyptian pounds and that are listed on the Egyptian Stock Exchange are required to complete disclosures related to the financial effects of climate change in accordance with TCFD source
Has written guidance on ESG reporting Yes
Offers ESG related training Yes

  • 19 Sept 2018: the Egyptian Exchange (EGX) provided a training session for Federation of European and Asian Stock Exchanges (FEAS) members at EGX Smart Village premises on the importance of sustainability in stock markets, and how stock markets can raise the awareness of stakeholders about sustainability, and the importance of ESG reporting.
  • June 2022: EGX provided training on Climate-related Financial Disclosures (TCFD recommendations) in collaboration with the SSE, CDP and IFC. (source)
  • In 2022, EGX Sustainability Foundation and DCarbon Company, the regional representative of Global Reporting Initiative (GRI), agreed on a comprehensive training program for listed companies, on ESG & TCFD reporting, in accordance with international best practices in this regard. (source)
  • In 2023, CFA Society Egypt launched the Certificate in ESG Investing, under the patronage of the Financial Regulatory Authority and the Egyptian Exchange (source)
Market covered by sustainability-related index Yes
Has sustainability bond listing segment No
Has SME listing platform Yes
Women on boards mandatory minimum rule Yes

  • In 2021, the Egyptian FRA imposes that the EGX-listed and regulated companies should raise the percentage of women representation on their boards to 25% or have at least two females as members of the board. More info here.
Additional information

Organizational model of stock exchange
  • Governmental not for profit.
Regulatory bodies
  • Egyptian Financial Supervisory Authority.
Regulatory model
Limited Exchange Self-Regulatory Organization (SRO) Model

  • The Egyptian Exchange has a basic level of regulatory authority when it comes to listing and market surveillance. However, the Egyptian Financial Supervisory Authority is the overall regulator for the stock exchange.
About the stock exchange
Location: Cairo, Egypt

  • The Egyptian Exchange is one of the oldest stock markets established in the Middle East. The Egyptian Exchange traces its origins to 1883 when the Alexandria Stock Exchange was established, followed by the Cairo Stock Exchange in 1903. (Source).

Criteria for Stock Exchange Database

The SSE maintains a database of sustainability activities for all stock exchanges that are either members of the SSE initiative and/or members of the World Federation of Exchanges. This database is the most comprehensive database of stock exchanges worldwide and contains data on all main stock exchanges. The information in this database is intended to inform investors and other stakeholders on the work stock exchanges are undertaking to advance sustainability in their respective markets.

The information provided in this database is based on publicly available information prepared by the SSE Secretariat with input from stock exchanges in most instances. Sources and explanatory notes on sustainability information have been included in individual Stock Exchange Fact Sheets. The criteria for each category can be found below.

While every effort is made to keep the information in this database up to date, please be aware that certain factors change frequently and therefore may not be exact, such as the number of listed companies or market cap.

Field

Criteria Considered
Country Country of primary residence or registration
Has signed the SSE Commitment Letter? To be considered an SSE Partner Exchange, the CEO or Chairperson of the exchange must sign an SSE commitment letter. Contact the SSE for more information if your exchange would like to join.
Has annual sustainability report? For a yes, stock exchanges must report, either in a stand alone report or integrated into their financial report, on their environmental and social impact and corporate governance.
ESG reporting required as a listing rule? For a yes, all three factors have been considered (environmental, social and governance) within the listing rules for some or all listed companies. This requirement may come from the regulatory authority or the exchange, depending on the market.
Offers written guidance on ESG reporting? For a yes, all three factors have been considered (environmental, social and governance). The SSE has developed a model guidance that all exchanges can use to develop their own guidance to issuers. For more details, click here.
Offers ESG related training? For a yes, training must have taken place in the previous 12 months, and must be interactive. The topic of the training must be on some area of sustainability.
Market covered by sustainability-related index? Sustainability-related indices may include environmental or social  indices, or ESG indices. This could include specific themes, such as low carbon indices, or general sustainability indices. The index must be specific to the market the exchange operates in (a region or world index is not included).
Has sustainability bond listing segment? For a yes, the exchange has developed the rules and regulations allowing for sustainability bonds to be listed, and provides a separate segment for listing making the bonds easy to find and identify.
Has an SME listing platform? For a yes, the exchange offers a listing platform specifically for Small-and-Medium sized enterprises.
Additional Information Additional Information captures exchanges’: sustainability section of websites,  sustainability products not captured under indices; information on future sustainability commitments and other information on the exchange
Organizational model of stock exchange Whether the exchange is listed or not, and when it was demutualized
Regulatory bodies The regulatory authority that sets listing requirements and capital market regulation for the exchange's market
Regulatory model

The extent to which exchanges have regulatory authority in their market. This may include:

  • Limited exchange SRO
  • Strong exchange SRO
  • Independent member SRO
  • Government (Statutory)
  • Non-SRO
About the stock exchange The location of the headquarters of the exchange, and any additional details about the stock exchange.