GAFI: $7bn worth of Egyptian investments in Africa

Egyptian investments in Africa have reached $7 billion, Mohamed Khodair, chairman of the General Egyptian Authority for Investments (GAFI), said on Wednesday.

GAFI seeks to boost these investments by coordinating with the private sector firms in Egypt and Africa, Khodair said during a forum organised by Preferential Trade Area Bank (PTA), the financial arm of the Common Market for Eastern and Southern Africa (COMESA).

The forum has discussed funding and investment opportunities in developmental projects in COMESA countries and PTA member states.

Egypt’s Ministry of Investment considers the private sector as a partner of success in Egypt and Africa and an essential factor for development, Khodair added.

GAFI encourages more partnerships between Egyptian and African investors, he stated.