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00:00 Thank you for being with us and thank you for being here.
00:03 Although today the stock market is ahead of the leaders in the 70s,
00:07 the 30 is still trading at more than 5% of the market for the fourth week.
00:13 This is the best performance for the week we have been seeing for two months.
00:16 It is clear that there is still a return to Arab and foreign institutions,
00:19 which are the ones that are returning the index to the green area.
00:22 What is your comment on this closure?
00:27 First of all, welcome to all of you and to all the viewers.
00:30 During this week, the Egyptian stock market achieved the highest highs
00:38 in the market capital, the 30 and the 70.
00:43 If we look at the market capital, we will see that it is 1.885 trillion.
00:50 We are now winning about 100 billion pounds.
00:57 The 30 index has reached the highest peak it has not reached until now, 27,169.
01:06 The 70 index achieves very high numbers.
01:12 Therefore, we still say that the Egyptian stock market has a range of growth
01:17 and a range of growth, especially the same basic levels in 2023 and 2024.
01:24 We are still talking about the Egyptian state's compensation
01:29 in the decision to compensate the good not in the general economy for Egypt,
01:36 but for the Egyptian stock market.
01:38 The second thing is that the Egyptian stock market is moving according to the dollar exchange rate.
01:43 The dollar has increased by 58 pounds this week.
01:48 This is a reconstruction of the Egyptian stock market in the Egyptian stock market.
01:55 Therefore, I have basic support.
01:58 The dollar price has increased.
02:02 The third and most important thing is the results of the companies' work
02:05 that will be announced next week.
02:07 The results of very strong work.
02:09 The International Trade Bank announced that it has achieved 16 million pounds
02:14 compared to 12 million pounds.
02:16 In the past nine months, it has achieved 22 million pounds.
02:22 Therefore, it will achieve more with the results of the work.
02:25 The Bank of Blessing has achieved 71 billion pounds compared to 31 billion pounds.
02:32 In the past nine months, it has achieved 31 billion pounds.
02:35 Therefore, I am in favor of the results of the work and the compensation
02:40 in the increase of the dollar price.
02:42 This is a basic support for the Egyptian stock market
02:44 that it does not achieve 27,000 pounds, but it achieves 35,000 pounds.
02:50 I am waiting for the next period for the stock market to achieve 30,000 pounds,
02:55 not 27,000 pounds.
02:57 The delay in the announcement of the compensation that we have been waiting for since the end of 2023.
03:03 Do you think that it is still in compliance with the negotiations with the Bank?
03:09 Will the compensation process be requested by the Bank, Mr. Mohamed?
03:14 Or will we see you as an individual by the government?
03:17 Does the compensation that is required by the Bank now become a necessity?
03:22 I want to tell you that the compensation in the Egyptian economy
03:31 when the dollar price is reduced by one pound,
03:35 puts a million Egyptian citizens under the poverty line.
03:39 So I think that this request is not a request from the Egyptian government
03:45 because it knows the consequences of this compensation.
03:48 The consequences of this compensation are the following.
03:51 What is the price of compensation?
03:53 37,000 pounds as indicated, 38,000 pounds as indicated, this is a low price.
03:58 So if the Egyptian state is subject to compensation,
04:01 it is a wrong decision by 100%.
04:04 Because the compensation that we know in the economy and teach them in the economy
04:11 is that the Egyptian state is able to compensate when it has a very large sufficiency
04:18 and a sufficient dollar.
04:20 This means that the Egyptian state has a sufficient foreign currency
04:25 and therefore it starts to compensate.
04:27 So the positive effects will be on the economy.
04:30 But if the compensation starts without the Egyptian state knowing
04:35 the extent of the dollar surplus in front of it or that the dollar surplus is low,
04:41 then there is no need for compensation.
04:43 I will tell you, and I want one of the officials to hear me,
04:46 that if the compensation is done and there is no dollar surplus in the Egyptian state,
04:52 it has no meaning.
04:54 Because any increase of 40 pounds in the black market or the equilateral market
04:59 will increase by 70 pounds.
05:01 If the compensation is done to 50 pounds, the equilateral market will increase to 98 pounds.
05:08 So the compensation is not good for the Egyptian economy
05:12 unless the state has sufficient dollar surplus.
05:16 And therefore we come to the second criterion,
05:19 the EGPB announced two days ago that it will stop the dollar bonds
05:26 or will not accept the dollar bonds in the international markets.
05:30 This is a very big danger to the Egyptian economy.
05:33 So the EGPB puts pressure on the Egyptian state to compensate.
05:40 And it believes that the compensation is the driver of the Egyptian economy.
05:45 It is not the driver of the Egyptian economy.
05:47 The driver of the Egyptian economy is the oil exploration.
05:50 As the Egyptian state pointed out in the exploration of oil in the eastern Sahara,
05:55 agriculture and production are very strong sources for any global economy.
06:02 And therefore, if these basic criteria are supported,
06:08 the economy will be in the right direction.
06:11 One last question about the EGPB.
06:13 The withdrawal that happened today, in your opinion, is it a purchase temptation?
06:17 Despite the statements we heard from the president that the financing for the fifth generation license
06:23 will be self-funded and the revenues will not exceed 15%, Mr. Mohamed.
06:27 What do you think about the withdrawal that happened on the shelf today?
06:30 I want to tell you that the EGPB has a very sufficient share
06:38 in the financing of the 5G liquidity.
06:44 And therefore, the company can save $150 million.
06:50 I want to tell you that the results of the EGPB's work in the past nine months
06:56 have saved about 48%.
06:58 That is, it has saved about 9.1 billion pounds.
07:02 So the company is very strong.
07:04 The strategic company is very strong.
07:06 The impact of this on the price of the share is what puts us in a very important question.
07:12 Why is the announcement of positive results and the price of the share reduced?
07:17 Because in the global markets and the Egyptian market,
07:21 there is no such thing as the "quick market".
07:24 The quick market is to announce the results of the business at its time
07:29 and affect the results of the business.
07:31 That is, if the quick market is announced on the results of its work during this day,
07:37 it affects the share during the coming sessions.
07:40 But as long as we agree that we are not a quick market,
07:44 in the sense that the information is not in the hands of all investors
07:51 and is known by a group of other investors,
07:54 and therefore, when the announcement of a positive news for the share,
07:59 the Egyptian people do not react to this news
08:04 because the markets are judged by whether the market is quick or not.
08:10 And as long as we are a quick market,
08:12 the share market, when it announces the results of its work,
08:15 is positive, the price of the share is reduced.
08:18 Thank you, Mr. Mohamed Abdelhadi, CEO of Watiqa, for the financial papers.
08:22 You were with us from Cairo.