A woman counts U.S. dollars at a money changer in Yangon May 23, 2013 - REUTERS A woman counts U.S. dollars at a money changer in Yangon May 23, 2013 - REUTERS

British Investment Fund to invest $700M in Egypt

Mon, Jan. 20, 2020
CAIRO - 20 January 2020: Actis Investment Fund will announce Monday signing an agreement with Egypt, to invest about $700 million in the country, informed sources said Monday.

The sources confirmed that the investment fund is working in the fields of infrastructure, new and renewable energy among other sectors and is managing assets of about $12 billion.

They clarified that the agreement is scheduled to be signed on Jan. 20 during the African-British investment summit.

UK-Africa Investment Summit is the largest annual investment event held for the eighth time outside Africa; it aims to strengthen the partnership between Britain and African countries in order to build a secure and prosperous future for all, in addition to holding large new investments to create job opportunities.

The three-day UK-Africa Investment Summit is currently being held in Britain from Monday till Wednesday. On the sidelines of the summit, British Prime Minister Boris Johnson will meet with Egyptian President Abdel Fatah al-Sisi, as well as a number of African leaders, the British government said.

Britain has invited 21 African countries to attend the summit, the British Embassy in Cairo said, adding that Sisi, along with Johnson, will open the summit, as Egypt, the current chair of the African Union, will be a key participant.

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