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Egypt to take the lead in African Trade

Despite current low Egyptian trade figures, Kanayo Awani, Managing Director of the Intra-African Trade Initiative at the African Export-Import Bank (Afreximbank), claims there are many opportunities for Egypt to take the lead in intra-African trade, expanding its trade with the rest of Africa.

According to a report from biznisafrica.com, Egypt could expand its export trade in textiles, electricity, utilities and construction services There are also opportunities to boost fruit and vegetables imports from East Africa.

Afreximbank’s Chief Economist, Dr. Hippolyte Fofack, said that stronger intra-African trade was the path for leading African countries to take advantage of growth opportunities which, until recently, had been the preserve of non-African multinational companies.

Publication date: 12/22/2017


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