Egypt ranks first in volume of foreign investment flows in Africa: UNCTAD

CAIRO – 16 August 2023: Egypt ranked first in the volume of flows of foreign investment into the African continent in 2022, hitting 25%, followed by South Africa and Ethiopia, according to UNCTAD's 2023 global investment report.

That came in an analysis issued by IDSC highlighting horizons of investment worldwide in the shadow of the Russian-Ukrainian crisis that began in February 2022.

The IDSC also said the net direct foreign investment witnessed a tangible increase in Egypt in 2022.

The report showed that the flows of direct foreign investment to Egypt were up to $11.4 billion in 2022, compared to $5.12 billion in 2021, achieving a growth rate of 122%.

In an infographic published by IDSC, Egypt came among the top 5 African countries exporting intermediate goods in 2022. Egyptian exports grew by about 16% between 2012 and 2022. India and Saudi Arabia are the highest recipients of Egyptian intermediate goods.