Investor sentiment across the African continent weakened towards Egypt, one of Africa’s biggest economies, in 2024, with regional investment inflows dropping by 92.5%.
According to new data released by Egypt’s Central Agency for Public Mobilisation and Statistics (CAPMAS), capital inflows from African Union (AU) countries dropped to $831.2 million from $1.6 billion in 2023—marking a $789 million decline.
The slump in intra-African investments contrasts sharply with Egypt’s rising global profile as a destination for foreign capital.
An earlier United Nations report revealed that foreign direct investment (FDI) into Egypt surged to $47 billion in 2024, a dramatic increase from just $10 billion the year before, largely driven by a $38 billion commitment from the Gulf region.
This surge pulled the northern African country to the top of the continent’s FDI rankings.
Meanwhile, Egypt’s outward investment into other African countries also softened slightly, falling to $499.1 million in 2024 from $504.6 million a year earlier.
While the decline is relatively modest, it adds to the picture of a more subdued investment dynamic between Egypt and its regional peers.
Trade data provided in the CAPMAS report was more upbeat.
Total trade volumes between Egypt and other African economies rose modestly, reaching $9.8 billion in 2024, up from $9.2 billion the previous year.
Exports accounted for the bulk of that activity, growing 4.7% year-on-year to $7.7 billion, driven by strong demand from Libya ($2 billion), Morocco ($1 billion), and Algeria ($996 million).
Sudan, Tunisia, Kenya, Côte d’Ivoire, Ghana, Nigeria, and Madagascar also featured prominently among Egypt’s top African export destinations.
Imports from the rest of the continent also recorded a notable 14.5% increase, rising to $2.1 billion in 2024 from $1.8 billion the previous year.
The Democratic Republic of the Congo led the chart as Egypt’s top African supplier, with import volumes totalling $661.9 million.
It was followed by Sudan ($292.4 million), Kenya ($260.1 million), Nigeria ($165.5 million), and South Africa ($154.3 million).
Egypt maintains diplomatic bilateral ties with nearly all of the 54 other AU member states.
These relationships are anchored through regular engagement, trade collaborations and participation in continental forums such as AU summits and joint peacekeeping operations.
