Rédaction Africa Links 24 with MENA
Published on 2024-02-27 10:50:10
Prime Minister Mostafa Madbouly emphasized the government’s commitment to expanding ownership of state-owned companies through financial markets during a meeting with Chairman of the Board of Directors of the Financial Regulatory Authority, Mohamed Farid. The government is focused on developing the non-banking financial sector to enhance its role in the national economy.
Madbouly highlighted the importance of accelerating the program to expand the ownership base of state-owned companies through the stock market. He noted that there has been a significant improvement in trading values, market capitalization, and the number of operations in the stock market in recent times. The government is serious about completing this program to drive economic growth and development.
The Financial Regulatory Authority plays a key role in overseeing the non-banking financial system and ensuring the sector’s stability and efficiency. Madbouly commended the Authority’s efforts in developing and growing the non-banking financial sector, which is essential for the overall health of the national economy.
One of the main goals of the government is to enhance the capabilities of the non-banking financial system to support economic growth and create more opportunities for investment. By expanding ownership of state-owned companies through financial markets, the government aims to attract more investors and stimulate economic activity.
Madbouly’s meeting with Farid underscored the government’s commitment to driving economic reforms and promoting investment in the country. By working closely with the Financial Regulatory Authority, the government is paving the way for a stronger and more resilient financial sector that can support sustainable economic growth.
Overall, Madbouly’s emphasis on expanding ownership of state-owned companies through financial markets reflects the government’s proactive approach to driving economic development and creating a more dynamic and competitive business environment. By leveraging the stock market and enhancing the capabilities of the non-banking financial system, the government is taking concrete steps to build a stronger economy for the future.
Read Original article on Egypt Independent
