Egypt to launch new agency to boost exports, investments in Africa

The Egyptian government is preparing to launch a new Export and Investment Guarantee Agency to support Egyptian exports and investments in Africa.

Prime Minister Moustafa Madbouly held a meeting on Monday to discuss the agency’s activation and establish its operating procedures. The meeting was attended by key government officials, including the Ministers of Finance, Foreign Affairs, and Investment.

The agency will play a crucial role in supporting Egyptian exports and promoting economic cooperation with African countries. The government is finalising the details of the agency’s operations and will soon announce its launch, said Egyptian Cabinet’s Official Spokesperson, Mohamed Elhomosany.

The meeting also focused on strategies to enhance Egyptian exports and investments in Africa. The government aims to diversify exports, increase their competitiveness, and expand the base of Egyptian exporters.

The government is committed to providing incentives and financial guarantees to Egyptian companies seeking to invest in Africa. These incentives will be tailored to the size and scope of their investments, particularly in sectors such as agriculture, housing, utilities, renewable energy, infrastructure, and transportation.

Attribution: The Egyptian Cabinet