Egypt's PM launches Tamayoz index for SMEs

Cairo - Mubasher: Egypt's Prime Minister Mostafa Madbouly alongside five ministers, the Head of the General Authority for Investment and Free Zones (GAFI), and the Chairman of the Egyptian Exchange (EGX) opened Wednesday's trading session on the occasion of the launch of the new Tamayoz index for small- and medium enterprises (SMEs). 

Madbouly stressed the importance of the capital market as a key financing source for boosting economic growth and helping economic entities expand and grow further, according to a statement on Wednesday.

He noted that SMEs are on the top priorities of the government for their major role in driving economic growth, referring to the EGP 200 billion initiative launched by President Abdel Fattah El-Sisi in 2016 for providing low-interest loans to SMEs. 

EGX Chairman, Mohamed Farid, explained that companies listed on the Tamayoz index are selected according to several criteria, including achieving a minimum compound annual growth rate (CAGR) of 10% over four years or generating EGP 10 million in sales during the last year, as well as achieving positive growth in the book value or cash inflows from operational activities during the last two years.

 

Mubasher Contribution Time: 23-Jun-2021 11:02 (GMT)
Mubasher Last Update Time: 23-Jun-2021 11:15 (GMT)