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

Egypt’s El-Sisi Urges Sudan’s Transitional Ministry Council to Listen to the Protesters

Egyptian StreetsApril 24, 2019

5G to Launch in Egypt at the African Cup of Nations

Egyptian StreetsApril 24, 2019

Egyptians Vote 88.83% in Favour of Constitutional Amendments

Egyptian StreetsApril 23, 2019

Sisi: Human Rights Are A Top National Priority

Egyptian StreetsApril 23, 2019

Egypt’s Christians Celebrate Palm Sunday

Egyptian StreetsApril 21, 2019

Egyptian Peacekeeper Killed While on Mission in Mali

Egyptian StreetsApril 21, 2019

Death Toll Rises to 290, 500 Injured From Nine Bombings Targeting Churches, Hotels in Sri Lanka

Egyptian StreetsApril 21, 2019

A Quick and Simple Overview of Egypt’s Constitutional Amendments

Egyptian StreetsApril 20, 2019
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.