Egypt grows as an investment gateway to Africa

Hussein Abaza, CEO of Commercial International Bank, discussed Egypt's economic transformation plan and how it has placed the country as a bridge for trade and investment to Africa. Egypt has boosted its foreign direct investment in recent years with its strategic location, economic reforms, and regional integration endeavors. The country has notable economic stability, a competitive business environment, and an inviting investment climate following significant economic reforms. Its strategic position at the junction of Africa, Asia, and Europe, and the Suez Canal provide it with a competitive edge in connectivity, logistics, and global consumer market access. Egypt's vibrant ICT sector accounts for approximately 4% of its total GDP, and its diversified manufacturing sector contributes roughly to 15% of its GDP. The interview also highlighted Egypt's participation in regional integration plans, including the African Continental Free Trade Area (AfCFTA) and the Common Market for Eastern and Southern Africa (COMESA). CIB, as Egypt's largest private sector bank, has played a critical role in supporting Egypt's economic transformation and regional integration agenda.