Egypt: Establishment of a national company for African investment

Media In /cairo 8 november 2018
The Cabinet of Ministers of the Arab Republic of Egypt, headed by Dr. Mostafa Madbouli, Prime Minister, approved the granting of a license to establish a joint stock company on behalf of the Egyptian National Company for African Investment.

The share of the Ministry of Agriculture and Land Reclamation will be financed from the budget of the Egyptian farms project shared with the African countries and included in the plan of the ministry’s ministry for the fiscal year 2018/2019.

The project aims to cooperate with African countries through the transfer of Egyptian technology and expertise in the field of agriculture and the opening up of African countries’ markets to Egyptian agricultural products, especially the varieties and crosses of Egyptian crops that are superior in their productivity, under the directives of President Abdel Fattah Al Sisi in the light of his visit to Tanzania in December 2017 , Aimed at implementing integrated plant and animal production projects with the State of Tanzania; to benefit from its huge livestock wealth.

This project is one of the Egyptian development projects, which is directed to the African continent with the aim of enhancing the effective Egyptian presence in the African countries in general and the Nile Basin countries in particular