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Africa attracted a total of USD 38 billion in foreign direct investment (FDI) in 2020, down 18% from 2019, according to recent data from the United Nations Conference on Trade and development (UNCTAD). In the rankings, Egypt maintains its leading position with a total inflow of $ 5.5 billion, down 38% year on year.
Local transfers in the Egyptian pound will remain exempt from all fees and commissions until June 30th 2021, the Central Bank of Egypt (CBE) stated in a December 28th circular.
Egypt's central bank left its key interest rates on hold after cutting them three times this year, most recently in November, saying this decision was consistent with achieving its new and lower inflation target for the end of 2022.
The Ministry of International Cooperation and the German Agency for International Cooperation (GIZ) agreed to finance 11 new projects worth €132.8 million in 2021.
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