Risk guarantee fund established to encourage investment in Africa

CAIRO - 25 November 2019: "An investment risk guarantee fund has been established in order to encourage Egyptian investors to invest in Africa and participate in the development of the continent,"Chairman of the Suez Engineers Association Hassan Abdel Alim said Monday.

Abdel Alim added that this fund will also enhance digital transformation and facilitate the work of African companies in Egypt, allowing them to benefit from the continuous development in the Egyptian economy.

Additionally, Abdel Alim pointed out that Africa 2019 Forum plays an important role in promoting the development process in Egypt and the African countries, stressing that the forum is a good platform to promote investment in Egypt.

Abdel Alim clarified that the forum will increase the volume of trade exchange between Egypt and the African countries, noting that the volume of trade exchange between Egypt and the African countries reached $4.2 billion during the first 8 months of 2018.
"Egyptian investments in African countries reached $10.2 billion in 2018 and will exceed this figure during the coming period," he stated.

Egypt’s Africa 2019 Conference kicked off on Friday under President Abdel Fatah al-Sisi’s auspices, with the participation of more than 2,000 international businesspersons, economic experts and entrepreneurs from Egypt and African countries. The two-day conference was held in the New Administrative Capital.