Egypt's president opens Africa investment conference

2016-02-20 16:23
Abdel-Fattah el-Sissi. (Fady Fars, AP)

Abdel-Fattah el-Sissi. (Fady Fars, AP)

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Cairo - Egyptian President Abdel-Fattah el-Sissi is opening an Africa-focused investment conference, with government and private sector representatives, aiming to boost intra-African investments.

El-Sissi said on Saturday in the Red Sea resort of Sharm el-Sheikh that Egypt's private sector investment in Africa has exceeded $8 billion, without providing further details.

The Egyptian president said in a televised speech that the country aims to double trade between his country and other African nations in the next five years from the current $5 billion.

Sub-Saharan African economies are expected to expand an average of 3.7%, and are expected to rise to 4.4% growth in 2016, and 4.8% in 2017, according to the World Bank.

Read more on:    abdel-fattah el-sissi  |  egypt

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