News

Egypt Ranks First in ‘Where to invest in Africa 2018’ List

Egypt Ranks First in ‘Where to invest in Africa 2018’ List

Courtesy of Matjaz Kacicnik

Egypt has replaced South Africa and made it to the top of “Where to invest in Africa in 2018” list released by the Rand Merchant Bank (RMB)

South Africa is now second on the list. RMB said in a report, “Egypt displaced South Africa because of its superior economic activity score and sluggish growth rates in South Africa, which have deteriorated markedly over the past seven years.”

The top ten investment destinations include Morocco in the third place and Ethiopia in the fourth place.

In November 2016, Egypt started its economic reform program backed by the IMF after it had taken several measures, including the imposition of  Value Added Taxes (VAT) and gradual removal of subsidies, to receive a $US 12 billion loan.

The recent economic reform program has pressured nearly half of the population who live either near to or under the poverty line. Egypt has been adopting several social programs in an attempt to protect people on low incomes.

In June, president Abdel Fattah Al-Sisi ratified a long-awaited investment law which grants the investors multiple incentives to encourage the investment climate in Egypt.

 

Social Media Campaign to Help Afghan Women Break Free From the Chains of Radicalism
Uber to Launch Public Transport Service in Egypt: Minister

Subscribe to our newsletter


News

More in News

Khaled Ali Resigns from ‘Bread and Liberty’ Party After Sexual Harassment Accusations

Egyptian StreetsFebruary 20, 2018

Teenage FGM Rate Declines Amid Ongoing Fight to Stop the Practice Around Egypt

Egyptian StreetsFebruary 19, 2018

Egypt’s Ismailia to Become an ‘Electronic City’ in Attempts to Overcome Bureaucracy

Egyptian StreetsFebruary 18, 2018

Khaled Ali’s Party Acquits Him of Sexual Misconduct Following Accusation

Egyptian StreetsFebruary 18, 2018

Egypt’s Cycling Team Wins the 2018 African Championship

Egyptian StreetsFebruary 18, 2018

Egypt’s Mohamed Salah Scores 30 Goals in 36 Games

Egyptian StreetsFebruary 18, 2018

Egyptian Artist Performs to Celebrate Australia’s High Achieving Students

Daniel NourFebruary 18, 2018

Al Qaeda Leader Calls On Egyptians To Topple Government

Egyptian StreetsFebruary 17, 2018
Egyptian Streets is an independent, young, and grass roots news media organization aimed at providing readers with an alternate depiction of events that occur on Egyptian and Middle Eastern streets, and to establish an engaging social platform for readers to discover and discuss the various issues that impact the region.

© 2017 Egyptian Streets. All Rights Reserved.