Cairo – Mubasher: The total value of securities issued in the Egyptian main market exceeded EGP 162 billion during 2019, the Financial Regulatory Authority’s (FRA) chairman Mohamed Omran said.

In addition, the value of securitised bond issuances amounted to more than EGP 22 billion last year, four times higher than the largest value ever reported in Egypt, Omran added during a conference on Tuesday.

Omran further revealed that funding provided by mortgage companies rose by 18.2% to EGP 2.6 billion in 2019, compared to EGP 2.2 billion in the previous year.

As for financial leasing, the total value of contracts amounted to EGP 56 billion in 2019, up by 34.1% year-on-year from EGP 42 billion.

In addition, factored securities stood at about EGP 10.6 billion last year, the same value reported in the prior year.

Over the course of 2019, micro-funding surged by 43.47% year-on-year to EGP 16.5 billion from EGP 11.5 billion in 2018.

The Egyptian market topped the MENA region in terms of venture capital funding deals with 141 out of total 564 transactions in the region.

Moreover, insurance premiums grew by 19.3% year-on-year to EGP 35.2 billion in 2019, compared to EGP 29.5 billion in the previous year.

Omran added that investments in private insurance funds increased to EGP 75 billion last year from EGP 67 billion in 2018.