LUSAKA - 24 November 2020: The Egyptian Exchange (EGX) was the top destination of foreign direct investments pumped into Comesa markets in 2019, a report by the bloc said Tuesday.
Egypt could attract about 38 percent of the FDIs, followed by Tunisia and Sudan with 9 and 8 percent, respectively, said the report, a copy of which MENA obtained.
FDI inflows to Comesa capital markets upped by 20 billion dollars in the period between 2018 and 2019; i.e. 6.3 percent, according to the report.
It added that revenues from FDIs allocated for Comesa markets went up by 25 percent, reaching 31 billion dollars between 2018 and 2019.
Egypt had the lion's share of FDIs in the petroleum sector, attracting 52.4 precent of the total inflows netted for Comesa markets.
Comesa is a free trade area that was founded in 1994 and its headquarters is in the Zambian capital Lusaka.
In addition to Zambia, Comesa comprises Egypt, Kenya, Sudan, Mauritius, Zimbabwe, Djibouti, Malawi, Madagascar, Rwanda, Burundi, Comoros, Libya, Uganda, Seychelles, Congo, Eritrea, Ethiopia, Swaziland, Somalia, and Tunisia.