Gov't Memo: Egypt Comes First among African Countries Attracting Foreign Investment

A government memo submitted by   Dr. Hala Al Saeed,   Minister of Planning and Economic Development, to the Committee of African Affairs at the House of Representatives (HoR) chaired by lawmaker Sherif Al Gabaly,

affirmed that Egypt comes first among African countries attracting foreign investment which was estimated at $6.8 billion in 2018 according to figures of the United Nations Conference on Trade and Development (UNCTAD).

It is worth noting that South Africa comes second in attracting investment to Africa in the same year.

In 2019, Egypt invested more than $ 11.3 billion in African countries in various economic sectors such as building materials, information technology (IT), communications, chemicals, and real estate.

African countries like Ethiopia, Kenya, Uganda, and Tanzania received the major portion of Egyptian investment.