Egypt’s investments in Africa reach $13bln – IATF2023

Egypt’s investments in Africa reached $13 billion till now, Sherif El-Gabaly, Chairman of the African Cooperation Committee at the Federation of Egyptian Industries [FEI], said on Monday during the Egypt Country Day at Intra-African Trade Fair (IATF2023).

El-Gabaly also discussed Egypt’s readiness to contribute to Africa’s infrastructure development and industry growth, showcasing the commitment to fostering collaboration. Egypt has the world’s largest solar power plant and can provide much assistance to Africa, he added.

In the context of trade, El-Gabaly stated that Africa’s total exports were 1.6 million dollars and about 70 percent of exports to North Africa. He concluded that cooperation is an important and necessary element with many African countries.