Egypt’s capital market issuances up 45% YoY in 7 months: FRA

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Egypt - The total value of capital market issuances in Egypt rose by 45% in the first seven months of 2024, reaching EGP 344.931 billion, versus EGP 237.826 billion during the same period last year, according to the Financial Regulatory Authority’s (FRA) report on non-banking financial activities for July 2024.

Stock issuances alone rose by 62.5% year on year (YoY), amounting to EGP 326.674 billion between January and July 2024, from EGP 201.001 billion.

Consumer finance also saw significant growth, rising by 20.2% YoY to EGP 29.339 billion, compared to EGP 24.403 billion in the year-ago period.

The total number of consumer finance clients increased by 7.1%, reaching 2.127 million at the end of last July from 1.986 million in the seven-month period of 2023.

In the real estate sector, mortgages provided by companies soared by 168.1% YoY, totaling EGP 12.884 billion, compared to EGP 4.806 billion in the corresponding period last year.

The number of mortgage contracts also grew by 128.8% YoY, with 5,854 contracts signed, up from 2,559.

As for the insurance sector, it saw a 27% increase in total premium value, hitting EGP 52.865 billion at the end of July 2024, compared to EGP 41.634 billion in the same seven-month period of 2023.

Insurance premiums collected for individuals and savings grew by 10.7% YoY, amounting to EGP 23.807 billion, compared to EGP 21.505 billion.