Egyptian Exchange leads COMESA in attracting foreign investments
The Egyptian Exchange (EGX) has acquired the largest share of foreign investments directed to stock exchanges in the Common Market for Eastern and Southern Africa (COMESA), making up 38 percent in 2019.
Egypt was followed by Tunisia and Sudan with 9 percent and 8 percent, respectively
Total foreign investments directed to the COMESA’s stock markets grew by 6.3 percent or $20 billion year-on-year (YoY) in 2019.
In addition, returns on foreign direct investment (FDI) inflows to the COMESA increased by 25 percent to $31 billion last year.
The oil and energy sector have remained at the top in terms of the highest value of investments directed to the COMESA region.
Egypt made up 52.4 percent of foreign investments to the oil sector in the region.
Over the course of the year, the COMESA witnessed the establishment of 434 projects with a value of $26.26 billion.
The UK was the largest investor in the COMESA with 45 projects in 2019, representing 10.3 percent of all projects, followed by the UAE with 9.4 percent, the US with 9.2 percent, France with 8.2 percent, China with 7.1 percent, and Germany with 6.4 percent.