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

EU Looks to Egypt for Help With Mediterranean Migration

Mirna AbdulaalSeptember 21, 2018

Egypt to Receive 56,000 Tank rounds as Part of $99 Mn Arms Deal with US

Taha Mahmoud SakrSeptember 19, 2018

Egypt Planning to Establish Anti-Cancer Drug Factory

Mirna AbdulaalSeptember 18, 2018

Sandstone Sphinx Statue Discovered in Kom Ombo

Sara AhmedSeptember 16, 2018

UN Adopts Egyptian Resolution On Preventing Sexual Abuse

Mirna AbdulaalSeptember 16, 2018

Egypt Seeks to Penalize Water Misuse

Sara AhmedSeptember 16, 2018

Egypt Court Orders Arrest of Alaa, Gamal Mubarak

Egyptian StreetsSeptember 15, 2018

Prominent Egyptian Journalist Yosri Fouda Accused of Sexual Misconduct

Egyptian StreetsSeptember 15, 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.