The Egyptian Exchange (EGX) has reported a record trading value during December 2022. The Financial Brokerage Group (FBG) had the largest share of transactions executed in the past year and broke its previous records for the largest trading volume by a single company, amounting to EGP 126bn during December, bringing its total trading volume to EGP 224bn in 2022, with a market share of about 25%.
The Commercial International Brokerage Company (CIBC) came in second place, with a market share of 11% and transactions of EGP 99.5bn.
The Al Ahly Pharos Securities Brokerage executed transactions worth EGP 73.5bn, with a market share of 8.1%, followed by Hermes Securities Brokerage with a market share of 7.3% and transactions of EGP 66.5bn.
It seems that the competition will be intense in the coming years, as commercial banks have become a pivotal player in the market.
The FBG’s leadership resulted from conducting giant transactions, led by South Africa’s Vodacom Group Limited’s acquisition of a 55% stake in Vodafone Egypt, with a total value of €2.5bn, which is the largest acquisition deal in the Egyptian market during 2022 and one of the largest in the Middle East and North Africa region.
The FBG accounted for 48.3% of the market deals last year, while Al Ahly Pharos conducted 16.7% of market deals.
The Commercial International Brokerage Company continued in the runner-up position, with transactions amounting to EGP 99.5bn, and a share of 11%, by executing 1.03 million transactions.
During 2022, some Arab sovereign funds, such as Saudi Public Investments, Abu Dhabi Holding, and others, acquired stakes in five Egyptian companies with a total value of deals exceeding $4.5bn, and the most prominent of these deals came in the last quarter.
In the rest of the ranking, Arqaam Securities Brokerage advanced two places after executing 650,700 transactions on 2.5 billion shares, with total transactions amounting to EGP 28.5bn, seizing a market share of 3.2%.
Beltone Securities Brokerage fell to sixth place, with a turnover of EGP 27.5bn, and a market share of 3%, followed by Mubasher International for Securities which advanced two places from last year’s ranking, with trades worth EGP 25.6bn through 1.5 million transactions on 15.01 billion securities.
Mostafa Al-Debawi, Managing Director of Mubasher International for Securities, said that the company aims to expand its branch network to 40 nationwide this year. The company had only 12 branches until last year.
He explained that the stock market is witnessing a positive momentum that must be exploited in promoting investment in the Egyptian Exchange, as it is one of the most important investment attractions.
Pioneers Securities ranked eighth with a market share of 2.8% through executing 1.05 million transactions on 15.4 billion securities, followed by Cairo Capital Securities with a turnover of EGP 20.7bn and a trading volume of 6.2 billion shares.
Arabeya Online Securities ranked 10th with a turnover of EGP 19.8bn and a market share of 2.2%. The company conducted 924,400 transactions on 11.3 billion securities.
