EGYPT PLAYS HOST TO AFRICAN ECONOMIC SUMMIT: HERALDS BOOSTING AFRICA INVESTMENT

Egypt Africa Summit 2016

By: Economic & Finance Report

Egypt this weekend heralded the Egypt African Economic Summit 2016, which engaged heads of state, political leaders and business titans from different regions of Africa came to Egypt, to establish and engage in economic policy, particularly business and economic investment on the rapidly developing continent.

Africa’s GDP hit over 2 trillion last year but it still lagged behind the world, with only 2 percent in regards, in global trading. Egypt who is the sponsor of the summit is positioning itself as the gatekeeper of foreign investment into Africa? Which seems interesting enough since the Egyptian economy has not been faring to well also. Egypt’s economy focuses heavily on the tourism industry which is apart of the service and leisure sector, and the last few years their economy has not been as productive.

During the summit countries such as Nigeria, Sudan, Gabon, Togo, Equatorial Guinea (just to name a few) along with other African countries, will be discussing trade and establishing trade agreements among their respective economies.  -SB

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