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FDIs in Africa to hit $60bn in FY17/18 - Minister

FDIs in Africa to hit $60bn in FY17/18 - Minister
FDIs in Africa to hit $60bn in FY17/18

By: Abdullah Bedier

Cairo – Mubasher: Foreign direct investments (FDIs) in Africa are expected to stand at $60 billion during the current fiscal year, Egypt’s investment minister Sahar Nasr said.

These expectations will be achieved, in line with maintaining the economic reform, Nasr added.

The emerging markets need $2.5 trillion to achieve the sustainable development, the minister continued.

The Central Bank of Egypt (CBE) had previously announced a 14.5% increase in foreign direct investment (FDI) in Egypt to $7.9 billion in fiscal year 2016/2017.

The minister had previously said that FDI in Egypt may exceed $10 billion this year.

 

Translated by: Mai Ezz El-Din