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Stock Exchange Chairman Grants 3-Year Tax Relief for New Listings
Omar Rizwaan, Chairman of the Egyptian Exchange, announced that the government is offering a three-year tax deduction for companies entering the Egyptian market with a market capitalization exceeding 50 billion pounds. The aim is to increase the number of listed companies and enhance Egypt's position in international indices. This decision, part of the tax incentives launched in July, aims to encourage mergers and acquisitions to reach this threshold, thereby boosting market liquidity and increasing foreign inflows. The exchange has successfully maintained its classification as an emerging market in the FTSE Russell index after facing the threat of downgrading to a frontier market, thanks to recent reforms and the listing of major companies.
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