Egypt among top 10 African countries attracting private-sector investments

$Egyptian pound banknotes sit on a table on March 6, 2024 in Cairo, after Egypt\\'s central bank announced it will allow the exchange rate to be set by the market. Egypt\\'s central bank announced on March 6 it will allow the exchange rate to be set by the market, causing the pound to lose more than a third of its value within minutes. Shortly after 12:00 pm (1000 GMT), the Egyptian pound was trading at a record high of 49.15 pounds to the US dollar, after more than a year of a stabilised official exchange rate of around 30.9. (Photo by Khaled DESOUKI / AFP) , Agence France-Presse (AFP)/AFP$

Egyptian pound banknotes sit on a table on March 6, 2024 in Cairo, after Egypt's central bank announced it will allow the exchange rate to be set by the market. Egypt's central bank announced on March 6 it will allow the exchange rate to be set by the market, causing the pound to lose more than a third of its value within minutes. Shortly after 12:00 pm (1000 GMT), the Egyptian pound was trading at a record high of 49.15 pounds to the US dollar, after more than a year of a stabilised official exchange rate of around 30.9. (Photo by Khaled DESOUKI / AFP)
Agence France-Presse (AFP)/AFP

In spite of the major challenges posed by Africa's infrastructure to economic growth and development, Egypt stood out as one of the top African countries attracting investments

Staff Writer, Mubasher

January 6, 2025

PHOTO
Egyptian pound banknotes sit on a table on March 6, 2024 in Cairo, after Egypt's central bank announced it will allow the exchange rate to be set by the market. Egypt's central bank announced on March 6 it will allow the exchange rate to be set by the market, causing the pound to lose more than a third of its value within minutes. Shortly after 12:00 pm (1000 GMT), the Egyptian pound was trading at a record high of 49.15 pounds to the US dollar, after more than a year of a stabilised official exchange rate of around 30.9. (Photo by Khaled DESOUKI / AFP)

Cairo – Egypt was included among the top 10 African countries leading in private sector investments, according to Business Africa.

In spite of the major challenges posed by Africa's infrastructure to economic growth and development, Egypt stood out as one of the top African countries attracting investments, the Middle East News Agency (MENA) reported.

Based on World Bank data, the report showed growth in the total value of private sector investments in the Arab Republic during 2024, which anchors its position as a leading regional economic centre that contributes to achieving sustainable development goals.

Egypt’s Ministry of Planning, Economic Development, and International Cooperation recently indicated that the value of private investments amounted to EGP 133.10 billion in the first quarter (Q1) of fiscal year (FY) 2024/2025.

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