South Africa’s information technology sector is sending mixed signals as salaries for specialised roles are surging after years of decline, even as companies report that many new graduates are unprepared for the modern workplace, forcing businesses into the costly business of on-the-job training.

Data from recruitment firm Pnet shows early signs of recovery for IT salaries in 2026 after a sustained drop that saw average offers for some roles, like IT project managers, fall by 44% between 2022 and 2025. This resurgence, however, is highly selective. Employers are offering competitive packages for roles where practical, up-to-date skills are scarcest, including data engineering, cybersecurity, and cloud architecture.

For instance, DevOps engineers now command between ZAR 45 K and ZAR 62 K per month, while cybersecurity specialists earn ZAR 40 K to ZAR 60 K rand. Data engineers follow closely with monthly salaries of ZAR 42.9 K to ZAR 59.1 K rand. This rebound, driven by a recovery in labour demand and projects focused on artificial intelligence and data, contrasts sharply with the broader graduate experience.

Industry executives say a significant mismatch persists between university curricula and market needs. Employers cite critical shortages in cloud computing, cybersecurity, AI, and data science, noting many graduates lack hands-on experience with current technologies.

“Companies must make a profit to exist. They do not render educational services and are under no obligation to do so,” said Fred van de Langenberg, a technical consultant with decades of experience. This skills gap forces businesses to invest heavily in internal training and assign senior staff to mentor new hires, raising operational costs and slowing productivity.

Recruitment trends reflect this shift. An Adcorp analysis found only 32% of employers list a university degree as a key requirement for tech roles, while 47% prioritise demonstrable skills and hands-on experience. Recruiters increasingly favour candidates with specific certifications or verifiable project work over academic qualifications alone.

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The pressure is mounting on traditional education providers to adapt faster. Universities acknowledge the challenge but cite lengthy institutional and regulatory processes for major curriculum updates. “While minor changes can be implemented relatively quickly, major curriculum changes require lengthy… approval,” stated the University of Pretoria, which emphasises balancing practical skills with academic fundamentals.

In contrast, private training providers and new models are positioning themselves as more agile alternatives. Coding bootcamp WeThinkCode says its curriculum is continuously updated with industry partners, with students working on current workplace projects to ensure immediate job readiness.

The result is a bifurcated job market. For professionals with niche, in-demand skills—particularly in AI, where job postings have jumped 352% since 2019—the prospects are strong with rising compensation. For graduates with only broad theoretical knowledge, the path is harder, requiring them to bridge the skills gap themselves.

“The message is blunt,” said van de Langenberg. “You must not wait for knowledge to be given. You must fetch it yourself”.

The long-term risk is to South Africa’s digital competitiveness. If the disconnect between training and industry demand persists, companies will continue to shoulder heavy training burdens, graduates will face higher barriers to entry, and the country could struggle to fill an estimated global shortage of 85 million skilled tech workers by 2030. The success of the salary recovery for a few may hinge on solving the skills crisis for the many.

Kenya’s new National Electric Mobility Policy is a long-awaited framework packed with tax incentives and ambitious targets designed to catapult the country into a regional leader in electric transportation. The policy arrives amid explosive growth in the sector and aims to tackle the country’s massive fuel import bill, but also raises questions about execution in a market where ambitious climate ventures have recently faltered.

The government has zero-rated Value Added Tax (VAT) on electric buses, bicycles, motorcycles, and lithium-ion batteries, and eliminated excise duty on the latter three. Further tax breaks for EV parts and charging stations are set to begin in July 2026. The most visible change is the introduction of distinctive green reflective license plates for all fully electric vehicles, a move Transport Cabinet Secretary Davis Chirchir called a “signature” of national climate commitment.

Kenya’s petroleum import bill hit a staggering KES 628.4 B (~USD 4.8 B) in 2023, the country’s largest import expense. This reliance drains foreign exchange and exposes the economy to global fuel price swings. The policy estimates that as EVs displace petrol and diesel engines, the government could face a USD 693 M annual shortfall in fuel tax revenue by 2043, a gap it may need to fill with road-use charges or electricity levies.

Kenya’s approach is notably pragmatic, focusing on high-usage commercial vehicles to maximise impact. The market is already responding; EV registrations skyrocketed from 1,378 in 2022 to over 39,000 by 2025, a 2,700% surge driven largely by electric bodaboda motorcycles and fleet vehicles. The economic savings in driving 100 km in a light EV for as little as USD 0.62, compared to USD 6.62 for a petrol vehicle, is a strong draw.

This places Kenya among a group of African nations pursuing distinct EV strategies. Ethiopia has taken the most radical step by banning imports of internal combustion engine cars. South Africa is focusing on production, offering manufacturers a 150% tax deduction to build local capacity. Kenya’s blend of consumer incentives and commercial targeting reflects its specific strengths, including a renewable-heavy grid where over 90% of electricity comes from geothermal, hydro, solar, and wind sources.

The government has set a goal of 10,000 public charging stations by 2030 and will require new commercial buildings to dedicate at least 5% of parking to EV charging. However, Kenya’s electrical grid currently lacks the capacity and reliability for large-scale EV adoption. Partnerships with the national utility, Kenya Power, to install initial charging stations and develop smart-grid solutions are essential but untested at scale.

The recent, abrupt collapse of Kenyan climate-tech pioneer Koko Networks serves as a cautionary backdrop. The clean-cooking company, which had invested over USD 300 M and employed 700 people, failed after years of waiting for a crucial government authorisation to sell its carbon credits. It showed that even well-funded ventures with clear policy alignment can stumble on the rocky path from government announcement to concrete, sustained execution.

For Kenya’s EV ambitions, the policy document is now public, the green plates are ready, and the tax breaks are scheduled. The harder task of building the infrastructure and maintaining the political will to see the transition through has only just begun.

Walk into a co-working space in Nairobi or Lagos or any big city across Africa, and you’ll hear it. People talk about currency pairs, market swings and the latest on the US dollar. Not long ago, forex trading was something only banks or big investors did. Now, it’s everywhere. Every day, people, small business owners and entrepreneurs are getting in on it. Forex is booming in emerging markets, and Africa’s right in the thick of it.

This isn’t just happening out of the blue. Technology has made it easier than ever, the economic landscape is shifting, and there’s a whole new generation that feels at home in the digital, global world. For these markets, the rise of forex isn’t just a passing fad; it’s a sign that the way people handle money, manage risk, and chase opportunity is changing fast, especially with the uncertainty out there.

Why forex’s global reach matters on the ground

Understanding forex trading is simple at its core: You’re trading one currency for another. But the scale is massive; it’s the world’s largest financial market, operating around the clock and linking economies worldwide. For countries that rely on global trade, that’s a big deal.

Think about it: African economies depend on selling raw materials, buying everything from fuel to equipment and attracting foreign investment. All of that hinges on currency values. When local currencies start to swing, people want to know what’s going on and how to take control.

For business owners, this stuff gets real. Importers need to protect themselves from wild exchange rates. Exporters want to make sure they’re actually making money. Even freelancers working with clients overseas feel the impact when currencies move. Trading directly in forex is a way to stay ahead, not just scramble after the fact.

Tech is opening the door

The reason forex keeps spreading? It’s access, plain and simple. Ten years ago, you needed a pile of paperwork, a good chunk of cash and probably some insider connections to start trading. Now, all you need is a smartphone and a reliable internet connection.

Online platforms changed everything. They’re easy to use, packed with tutorials and they give you a ticket to global markets that used to be off-limits. Lots of these platforms let users trade not just currencies but also gold, oil and other commodities. They pitch forex as part of a bigger toolkit, so people can spread their bets instead of putting everything on one asset.

Young people are driving the boom

Africa’s population is young, one of the youngest in the world. That’s a huge reason forex is taking off. Young people are tech-savvy, quick to learn online and always on the lookout for new ways to make money.

With traditional jobs lagging behind the growing population, many young Africans are looking for side gigs or ways to carve out their own paths. Forex fits right in. It’s flexible, you can do it from anywhere, and if you put in the work, you can get better at it.

Social media just adds fuel to the fire. Traders post their wins, losses and tactics on YouTube, X, Telegram and so on. Sure, there’s plenty of bad advice floating around, but these online communities make forex feel less intimidating and more accessible to anyone.

Market impacts on forex interests

Emerging markets experience greater volatility than most developed economies. Inflation flares up, currencies lose value overnight, and politics often throw in a wild card. All of this hits people’s savings and day-to-day business pretty hard.

That’s why more folks are turning to forex trading, not just to chase big wins, but to protect what they have. Some traders just want to protect their savings or offset losses elsewhere. 

The most traded commodities

Gold and oil really matter in Africa. Many economies here either dig them up or buy them in bulk, so their prices ripple through everything. If you can move between currencies and commodities on one platform, you’ve got a practical way to react when prices swing on the world stage.

People are also getting savvier about forex. It’s happening slowly, but the change is real. Sure, there’s still plenty of confusion, but more traders get it now that you need discipline, solid risk management and a grip on reality if you want to stick around.

Education is key

Local trainers, online courses and even university clubs are helping shift the mindset. Some brokers are pitching in too, building educational tools that actually make sense for locals; no abstract lectures, just real-world examples in plain language.

This stuff matters. Informed traders don’t bail after one bad trade. The more people understand, the less forex feels like a lottery, and the more it becomes a skill you build for the long haul.

Regulation in a global financial world

But the growth of forex isn’t just about individual wins or losses. It’s a sign that more people are stepping into the global financial world. That kind of participation can spread financial know-how and give people a sharper sense of how global events hit home.

Still, it’s not all smooth sailing. Regulators in Africa are scrambling to keep up. They need to protect people, but if they clamp down too hard, they could kill off innovation. With more people trading every day, there’s a real need for clear rules and smarter trading habits.

Feature image supplied

Africa’s largest mobile operator MTN Group is in advanced talks to acquire the 75% of IHS Towers it does not already own, in a deal that would value one of the world’s biggest independent tower companies at approximately USD 2.7 B.

If completed, the transaction would hand MTN full control of critical network infrastructure across key markets like Nigeria and South Africa, marking a dramatic reversal after years of selling its towers to specialist companies to save cash.

MTN confirmed in a cautionary announcement to investors that any potential offer would be priced near IHS’s last closing share price on the New York Stock Exchange. IHS shares closed at USD 8.23 on February 4, giving the company a market value of roughly USD 2.76 B. As of February 5, its market capitalisation was approximately USD 2.69 B.

Both companies stress that talks are ongoing, no binding agreement has been reached, and the deal may not proceed. IHS Towers, which is listed in New York and Frankfurt, confirmed the discussions in its own statement.

The potential buyout represents a sharp turn in MTN’s infrastructure strategy. For over a decade, the telecom giant pursued an “asset-light” model, selling thousands of its passive tower sites to companies like IHS in so-called sale-and-leaseback agreements. A major 2022 deal saw MTN sell over 5,700 towers in South Africa to IHS, freeing up capital but committing to long-term lease payments.

By moving to own the towers outright, MTN signals a bet that direct control will lower long-term operating costs, improve network planning, and strengthen its competitive position. This comes despite MTN having voiced concerns about corporate governance at IHS in the recent past.

IHS Towers, founded in Nigeria in 2001, has grown to operate over 37,000 towers across seven markets in Africa and Latin America. Nigeria alone accounts for nearly 60% of its revenue, making MTN’s dominance in that market a key factor in the deal.

Despite reporting a solid net profit margin of over 26%, the company carries significant financial risk. Analysis indicates it has high debt levels and an Altman Z-Score in the “distress zone,” a metric that suggests potential bankruptcy risk within two years. This financial backdrop adds a critical dimension to MTN’s potential acquisition.

The outcome of the negotiations will signal whether Africa’s telecom leaders believe the future lies in owning their infrastructure or continuing to lease it, with major implications for costs and connectivity across the continent.

Rwanda will become the first nation with complete nationwide drone delivery coverage following a major expansion with Zipline, the autonomous logistics company. The move, backed by a significant U.S. State Department award, deepens a decade-long partnership that began with delivering blood to remote clinics and now aims to include groceries to urban doorsteps.

The expansion is the first to proceed under a USD 150 M “pay-for-performance” award the U.S. State Department granted Zipline in late 2025. Under this model, Zipline receives upfront U.S. government funding to build the delivery infrastructure, while African governments commit to long-term service fees for ongoing drone deliveries. Rwanda has signed the first contract under this scheme, which could triple Zipline’s network on the continent.

“This partnership is an example of the innovative, results-driven partnership at the core of the America First foreign assistance agenda,” said Jeremy Lewin, a U.S. Under Secretary of State.

Rwanda first partnered with the U.S.-based company in 2016, using its drones to solve a critical healthcare problem: its mountainous terrain and poor road network made transporting time-sensitive medical supplies to rural areas slow and unreliable. Studies showed that between 25% and 40% of temperature-sensitive supplies, like blood and vaccines, were wasted due to failures in the cold-chain logistics.

Zipline’s system allowed health workers to order supplies via text message or an app, with drones delivering directly to clinics in under an hour. Independent research shows the system has helped reduce maternal mortality from postpartum hemorrhage by 51% in supported facilities and cut medicine stockouts significantly.

The new phase extends beyond healthcare and rural areas. Rwanda will become the first African nation to deploy Zipline’s “Platform 2” (P2) drone system, designed for precise, quiet deliveries in dense cities like Kigali. The P2 drones, which can carry up to 8 pounds (3.6 kg), will enable urban home delivery of retail goods and food.

“With this partnership, we will now expand to urban delivery, bringing these benefits to even more communities,” Paula Ingabire, Rwanda’s Minister of ICT and Innovation, said in a press release.

As part of the deal, Zipline will also establish its first overseas research and development centre in Rwanda. The AI and robotics testing facility will develop and refine drone technology for different global climates, with the goal of creating technology “built by the world.”

The Rwanda expansion builds on strong momentum for Zipline. In January, the company secured USD 600 M in new funding, valuing it at USD 7.6 B, to fuel its expansion in the United States and globally. It has completed over 2 million deliveries worldwide, making one every 30 seconds.

For Rwanda, the model represents a continued bet on technology to leapfrog infrastructure challenges. The government will pay for the ongoing delivery services, with the U.S. funding covering the scale-up costs.

“This is a global first — not because the technology exists, but because the leadership exists,” said Caitlin Burton, CEO of Zipline Africa

For several years, Martin Mbonu and his team at ComzAfrica have been operating in the background. While headlines chased flashy fintech unicorns and their massive funding rounds, this Rwanda-based company quietly processed over USD 5 B in small digital loans. Now, as the African tech scene grapples with a reset and asks what comes after growth-at-all-cost, their long-game philosophy is having its moment.

“Financial inclusion was the foundation, not the destination,” Mbonu tells WT, articulating a view he has held since 2010. His question has always been the one many are only now asking: “After people are financially included, what next?”

ComzAfrica, founded in 2010 by Gilles Richard Mulihano, Jeff Gasana, and Keza Bunyenyezi, and now led by Mbonu since 2024, set out to build embedded finance before the term was popular. Instead of building another app for consumers, they built tools for telecom companies and other large platforms. This allowed millions of people to borrow small amounts of airtime or data directly through their mobile phones, using channels they already knew.

“Our primary objective was to address challenges faced by both consumers and telecommunications providers,” Mbonu explains. “Consequently, introducing the solution as a telecommunications product was a logical decision, and we acted as the enablers using technology.”

The company’s origin is a relatable story of everyday frustration. In 2008, one of the founders found himself locked out of his home late at night, out of airtime to call for help, and unable to buy a recharge card. This trivial yet universal pain point revealed a massive gap.

It was that mundane problem that led to a simple solution: a way to borrow small amounts of airtime instantly. The real insight, however, was about distribution, not just credit “We realised it was a distribution problem,” Mbonu says. “How will this product get into the hands of the consumers?”

The scale they achieved is measured in staggering volume—billions of dollars in micro-loans—but also in daily impact. “We process over USD 700 K daily in loans,” he claims. “These are people who landed at an airport, need data to continue roaming, and they quickly dial the short code and borrow.”

“It could be someone who really needed airtime but maybe is out of cash on mobile money,” he says, describing the typical, urgent need the service meets.

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In an ecosystem obsessed with user counts and venture capital, ComzAfrica stands as a contrarian. Bootstrapped and independent for a decade and a half, it has never taken outside investment. “We got into business to solve a problem and make money. We didn’t start ComzAfrica to raise money at the time,” Mbonu states.

This independence shapes his critical view of industry myths, particularly the tense relationship between fintechs and traditional banks. “That partnerships with banks do not work. That banks are too slow and are too rigid,” he says, dismissing a common narrative.

“We have worked with banks in the last 15 years, and we will continue to work with Banks.” He sees them as essential partners, with fintechs solving for speed and distribution where banks provide trust, regulation, and capital.

Mbonu describes his team as “missionaries” on a vocation to provide access. He likens the company’s personality to “Ragnar Lothbrok, the Viking hero, but with lots of kindness,” defined by curiosity, leadership, rebellion, and duality.

This resilience was forged in challenging markets. When asked about the hardest country to enter, his answer is succinct: “Iran, lots of reasons.” The experience taught him that “achieving success in a different environment requires openness to unlearning previous approaches.” He applies the same lesson to tough African markets, noting that “Nigeria presents considerable challenges as a market; without careful planning, initial investments may be depleted.”

Looking forward, Mbonu’s vision is fixed on the next logical step. With digital wallets and accounts now widespread, he believes the industry’s obsession must shift from inclusion to prosperity. “Now that individuals possess wallets and bank accounts, maintain digital footprints, and have credit scores, the next step is to empower them to build wealth,” he says.

For ComzAfrica, this means continuing to be the hidden engine within larger ecosystems, enabling credit and other complex financial services in the platforms where people already live their digital lives. The next conquests, he says, are North Africa and Asia.

As the African tech narrative matures from a chase for users to a pursuit of sustainable value, Mbonu’s 15-year journey offers a tested blueprint.

CORRECTION (5th Feb, 2026; 11:40 WAT): This article was updated to show the co-founders of ComzAfrica and the origins of the personal encounter that led to its founding.

LemFi, the global financial platform built for the underserved, is launching its remittance services in Australia after receiving approval from the country’s financial services regulatory unit. The approval marks a significant milestone in LemFi’s global expansion and enables the company to begin offering its remittance services to customers in Australia, one of the world’s fastest-growing and most important outbound remittance markets.

Australia’s migrant population has grown rapidly, now accounting for 31.5% of the total population, or 8.6 million people, following record net overseas migration over the past two years. Migrants contribute USD 330 B (AUS$480.5bn) to Australia, and outbound remittances from Australia have surged, with USD 38.2 B (AUS$56.6bn) sent overseas in 2024 alone. India is the single largest recipient, receiving $7.3 billion in remittances from Australia in 2024, followed by China at $5.35 billion. Other major remittance corridors include Vietnam, the Philippines, Pakistan, Kenya and Nigeria – all of which are markets already served by LemFi.

A high regulatory bar and a strong signal of trust

LemFi has received formal authorisation from AUSTRAC, Australia’s financial intelligence and regulatory authority, to operate as an independent remittance dealer. Securing approval demonstrates LemFi’s operational maturity and its ability to meet stringent international compliance standards. 

As an independent remittance platform, LemFi can now directly provide its remittance services to Australian residents, offering competitive exchange rates, fast transfers, and low-cost fees. Australian customers will join over 2 million LemFi users across Europe and North America, sending money to more than 30 countries worldwide. 

Rebeca Wignall, Chief Legal Officer at LemFi, said: “Remittances are more than transactions, they are about family, responsibility and opportunity. Receiving AUSTRAC approval reflects the strength of our compliance framework and allows us to support Australia’s diverse migrant communities with secure, transparent and accessible financial services.”

Mamadou Mareme Diop, VP of Remittance at LemFi, said: “Australia is a critical remittance corridor, and demand continues to grow alongside migration. This approval allows us to bring LemFi’s trusted, customer-first remittance experience to a market where these services are essential to millions of people.”

A growing global footprint

Australia becomes the latest addition to LemFi’s expanding regulatory and geographic footprint, alongside licences and approvals in the UK, Ireland, the US and key remittance corridors across Africa and Asia. The expansion supports LemFi’s broader mission to build a full financial ecosystem for immigrants, spanning remittances, savings and credit, designed around the realities of global mobility.

In Kenya, TikTok is delivering serious sales results for brands, but questions persist over how the platform shares its commercial success with the local creators essential to its growth.

TikTok for Business, the platform’s advertising arm, is marking its first year in Kenya with data showing over 200 local creators collectively earned more than KES 47 M (over USD 360 K) through brand collaborations. The revenue came from Kenyan companies hiring creators to make promotional videos, using TikTok’s new local support teams to connect them.

The platform’s debut commercial year has seen strong adoption by Kenyan brands, resulting in measurable growth for several major companies. TikTok campaigns, findings revealed, helped e-commerce platform Kilimall generate over 152,000 purchases and a six-fold increase in sales. Others, such as consumer goods player Godrej Aer, doubled month-on-month sales, while fintech company Branch topped customer acquisition targets.

“It’s less billboard, more smartphone; less polished studio, more authentic, creator-driven clips,” TikTok says. This shift comes as spending on traditional TV, radio, and newspaper ads in Kenya has seen double-digit declines, while digital ad reach on platforms like Facebook has soared.

Despite the promising start for brand partnerships, a critical gap remains in how TikTok monetises the broader creator community. The platform’s Creator Rewards Program, which pays users directly based on video views and engagement, is not available in Kenya or anywhere in Sub-Saharan Africa.

This policy has sparked criticism from creators and officials who argue the platform profits from African content without sharing a cut of the core advertising revenue. “If you have no arrangement [to pay], what are you doing in my country?” Ugandan comedian Kansiime Anne has asked. South Africa’s Communications Minister has called the exclusion an “economic injustice”.

In contrast, YouTube shares up to 55% of ad revenue with creators globally. TikTok points to alternative tools like “LIVE Gifting,” where fans can send virtual tips (though TikTok takes a standard cut), as well as special grant programs. However, these are not passive income streams like the unavailable rewards program.

For now, a Kenyan creator’s primary path to earning on TikTok is through the type of brand deals the platform is celebrating. With over 10 million users in the country and the app ranking as the third most popular social platform, building a sustainable local creator economy is imperative.

The platform plans to “deepen its footprint” in Kenya, betting that the next big billboard isn’t on a highway but in someone’s hand. The challenge will be ensuring more creators have a fair share in the revenue that billboard generates.

Feature Image Credits: The Star

After years of relative quiet, Egypt’s public markets are staging a vigorous comeback. A wave of new listings, led by homegrown technology and consumer brands, is signalling a surge of investor confidence and transforming the Egyptian Exchange (EGX) into a hub for local growth stories.

Market officials anticipate 2026 will be “the most active period for initial public offerings in the exchange’s history,” with plans to list around eight new companies, primarily from the medical and tourism sectors. This momentum follows a blockbuster year in 2025, which saw the EGX’s total market capitalisation surge by 42% year-on-year; part of a staggering cumulative growth of 390% since mid-2022.

The turning point came in 2025 with the landmark listing of Valu, a leading Egyptian fintech platform. Rather than a traditional IPO, Valu debuted through an innovative “in-kind dividend” where shares were distributed to investors of its parent company, EFG Holding.

The debut was explosive as Valu’s share price surged 852% in its first minutes of trading, proving local investors have a powerful appetite for high-growth tech companies.

The listing also attracted global attention, with Amazon acquiring a direct 3.95% stake in the company. Market experts, including Morgan Stanley, now highlight Egypt for “undemanding valuations amid an ongoing macro-turnaround,” with foreign investor flows reaching a two-year high.

Building directly on this momentum, premium grocer Gourmet Egypt has announced plans to list on the EGX. Its IPO was priced at the top of its target range, with the private placement portion oversubscribed by more than 12 times.

The deal, which saw existing shareholders sell a 47.6% stake while retaining confidence in the future, was seen as a key test of retail investor demand in Egypt’s consumer sector. Its strong reception confirms a broad-based revival is underway.

The market’s resilience is now being tested by the planned listing of Bosta, Egypt’s ubiquitous last-mile delivery startup. The company is reportedly preparing to float 20-30% of its equity in a deal worth up to EGP 8 B (USD 160-170 M) by the end of 2026.

Bosta represents a new breed of listing in that it’s a “pure-play” tech-enabled logistics company pitching itself as a high-margin ecosystem, not just a courier service. Its success will depend on investors believing in its expansion beyond parcel delivery into heavy B2B transport and its heavy investment in automation, including a new USD 5 M sorting facility.

The company is pursuing a “dual-track” strategy, concurrently preparing for its IPO while raising a USD 32 M private funding round to secure a financial cushion against market volatility.

These private-sector listings are unfolding alongside a government pipeline of 13 state-backed companies slated for privatisation, adding further depth to the market. The exchange itself is evolving, transitioning to a joint-stock company and preparing to launch sophisticated new trading tools like derivatives and short selling in early 2026. The combined effect is a dramatic re-rating of Egypt’s financial ecosystem.