Cairo – Mubasher: The Egyptian Exchange (EGX) has acquired the largest share of foreign investments directed to stock exchanges in the Common Market for Eastern and Southern Africa (COMESA), making up 38% in 2019, followed by Tunisia and Sudan with 9% and 8%, respectively, the Middle East News Agency (MENA) reported on Tuesday.

Total foreign investments directed to the COMESA’s stock markets grew by 6.3% or $20 billion year-on-year (YoY) in 2019.

In addition, returns on foreign direct investment (FDI) inflows to the COMESA increased by 25% to $31 billion last year.

The oil and energy sector has remained at the top in terms of the highest value of investments directed to the COMESA region.

Egypt made up 52.4%% of foreign investments to the oil sector in the region.

Over the course of the year, the COMESA witnessed the establishment of 434 projects with a value of $26.26 billion.

The UK was the largest investor in the COMESA with 45 projects in 2019, representing 10.3% of all projects, followed by the UAE with 9.4%, the US with 9.2%, France with 8.2%, China with 7.1%, and Germany with 6.4%.