The Egyptian Exchange (EGX) has set youth financial awareness as a priority in its strategic plan for development. We believe that educating young people on the basics of investing shapes a better future investor. The exchange is exerting all its efforts to reach Egypt’s youth through every possible channel to educate them about the fundamentals of investing in the Egyptian capital market.
Due to the pandemic, we had to switch to digital channels of communication to reach out to young people. In 2021, EGX conducted virtual lectures and training programmes for 1,000 students, compared with eight lectures for 320 participants last year. The lectures are conducted by EGX staff and are focused on informing the audience about financial basics, the fundamentals of trading, and the tools and mechanisms of trading.
A big step towards encouraging young people to invest has been the amendment of the capital market law allowing those aged 16 and upwards to trade at the EGX. Currently, investors below 21 years of age represent about 7% of the market.
This change in the law motivated EGX management to work harder to educate younger people about investing. Lectures at universities have been conducted extensively during 2021 and cooperation agreements with these universities have been executed.
As part of the MoUs signed with four universities, curriculum tailored for students has been created. This educational programme has been divided into two parts. A theoretical section covers all aspects of the trading on the EGX. The practical part is conducted through trading on EGX’s simulation game “StockRiders”, which enables students to gain a sense of real-time trading. The game is run as a competition and winners are awarded. The university lectures were held in a hybrid format. They were extensively introduced electronically and wherever possible they were held in-person.
The second phase of our awareness campaign was launched during the holy month of Ramadan, which is a period of high TV and social media viewership. The campaign introduced a clear message for young people about saving through the exchange. The campaign, which included videographs, resulted in a stream of calls enquiring about the basics of trading. About 70% of the 4,000 calls were from young people.
EGX also launched an initiative to reach youth internationally through a collaboration with the Ministry of Immigration. EGX headed two Clubhouse sessions with the participation of the Minister of Immigration which succeeded in attracting around 700 participants. The sessions were followed up with postings of more than 15 educational and promotional videos in addition to preparations for the launch of a portal.
Last but not least, EGX launched a new version of its simulated trading game “StockRiders.” The new version was specially promoted for participants of the international book fair in Egypt. The initiative succeeded in attracting around 540 participants in the game.
It was EGX’s second consecutive attendance at the fair. It’s another way for the exchange to create a direct communication channel with potential investors and another opportunity to shed light on the mechanisms and tools of investment on EGX.
The views, thoughts and opinions contained in this Focus article belong solely to the author and do not necessarily reflect the WFE’s policy position on the issue, or the WFE’s views or opinions.