Egypt’s investments in Africa record $1.2 bln in 2018 – minister

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Egypt invested around $1.2 billion in Africa during 2018, Egyptian Planning Minister Hala al-Saeed announced on Monday.

“The country’s total investments in Africa reached $10.2 billion,” al-Saeed said.

The minister referred that Egypt is keen on cooperating with a number of African countries to establish sovereign wealth funds to encourage joint investments in development and infrastructure fields.

“Egyptian countries have so far taken a bunch of initiatives aiming at establishing an investment risk guarantee fund in Africa to encourage Egyptian investors to direct their investments in the continent,” al-Saeed concluded.