Egypt’s stock exchange suspended trading on Tuesday due to widespread communication disruptions impacting brokerage firms across the country, just one day after a fire erupted at a central telecommunications facility in downtown Cairo.
The fire, which broke out Monday in the headquarters of a major telecom provider, caused significant damage to infrastructure critical to internet and mobile services nationwide. At least 14 people were reported injured, and emergency crews worked through the night to contain the blaze and restore basic connectivity.
Market Disruption Amid Infrastructure Crisis
In a statement issued Tuesday morning, the Egyptian Exchange (EGX) confirmed the halt in trading, citing brokers’ inability to reliably connect to the trading platform and communicate with clients. The outage affected not only retail investors but also institutional trading systems, which rely heavily on real-time digital access.
While some connectivity has reportedly been restored, full network stability has yet to be confirmed by telecommunications officials.
Telecom Hub Fire Sends Shockwaves Through Finance, Government Sectors
The building hit by the fire is one of Cairo’s central telecom hubs, housing key data servers and switching centers vital to Egypt’s communications infrastructure. Monday’s blaze caused a ripple effect across digital systems, from mobile banking to transportation logistics, with temporary blackouts reported in parts of Cairo and surrounding governorates.
Telecom officials said the cause of the fire remains under investigation, though early reports suggest an electrical short circuit may be to blame. The incident has sparked renewed concerns over infrastructure resilience and cybersecurity preparedness in Egypt’s rapidly digitizing economy.
Economic Implications and Calls for Contingency Planning
The trading suspension comes at a sensitive time for Egypt’s financial markets, which have seen increased foreign interest following the country’s inclusion in the BRICS bloc and recent efforts to stabilize its currency. Analysts warn that extended outages could undermine investor confidence and disrupt portfolio flows if not swiftly addressed.
Authorities are reportedly working with the National Telecom Regulatory Authority (NTRA) and cybersecurity agencies to assess the full impact and restore trading operations as soon as feasible.
