Egypt ranked Africa’s top investment destination

CAIRO - 20 September 2017: Egypt was ranked as Africa’s most attractive investment destination in Rand Merchant Bank's (RMB) “Where to Invest in Africa 2018” report, the Ministry of Investment announced Wednesday.

For the first time since the commencement of the report in 2011, Egypt has surpassed South Africa, which used to be on top, as Cairo got higher ratings in business and investment indices of the report.

RMB's where to invest report plots the investment potential of African economies using the bank’s Investment Attractiveness rankings, which balance economic activity against the relative ease of doing business.

Rand Merchant Bank is a leading African corporate and investment bank, with its roots in South Africa.

Egypt approved a new investment law in May, which facilitates business procedures, accelerates arbitration of business disputes and offers many incentives in a bid to attract much-needed investment.

Egypt’s net foreign direct investments (FDI) have increased to $13.3 billion in the last fiscal year (FY) 2016/2017, compared to $12.5 billion in the previous one, with a 6.5 percent increase, the Central Bank of Egypt (CBE) said last week.