Africazine:
Egypt’s new Citizen Bond has quickly attracted significant investment.
In just the first two days of its launch, Egypt’s Ministry of Finance reported that EGP 350 million was collected from the Citizen Bond offering. This bond, available through Egypt Post, offers a fixed annual return of 17.75% net of taxes, with interest paid monthly over 18 months.
Strong Demand for Egypt’s Citizen Bond
The Citizen Bond was introduced to enhance domestic savings and provide a reliable investment option for citizens. It has been particularly popular in Upper Egypt, where post offices have seen notable demand. The bond’s nominal value is set at EGP 1,000, with a minimum subscription amount of EGP 10,000.
Interest payments will be made monthly on the 15th, making it an attractive option for retail investors seeking regular income. The bond subscription window is open until 8 March, allowing ample time for potential investors to participate.
Egypt: Key figures on Citizen Bond
- EGP 350 million collected in first two days
- 17.75% fixed annual return net of taxes
- Nominal value of each bond: EGP 1,000
- Minimum subscription amount: EGP 10,000
- Subscription window closes on 8 March
Accessibility and Requirements for Investors
The Citizen Bond is available through over 4,000 post offices across Egypt, ensuring that it is accessible to a wide range of investors. To subscribe, individuals must hold an account with Egypt Post, which is a requirement set by the governing regulations. This step aims to streamline the subscription process and enhance investor engagement.
Next Steps for Investors
- Subscription window remains open until 8 March.
- Investors must open an Egypt Post account if they do not already have one.
- Monthly coupon payments will begin on the 15th of each month.
Egypt’s Citizen Bond is proving to be a popular investment choice among citizens.
