British International Investment (BII), the United Kingdom’s development finance institution, plans to increase its investments in Egypt while urging authorities to create a more level playing field between state-owned entities and private businesses.
According to Reuters, the organisation’s Chief Executive, Leslie Maasdorp, said Egypt remains BII’s largest investment destination in Africa and will continue to attract additional funding as new opportunities emerge.
The comments come as Egypt seeks to strengthen investor confidence, attract foreign capital, and accelerate economic reforms under an ongoing $8 billion programme with the International Monetary Fund.
Reuters reported that British International Investment currently has approximately £850 million ($1.1 billion) invested in Egypt across a range of projects, particularly in climate finance and renewable energy.
Speaking during a visit to Cairo, Leslie Maasdorp reaffirmed the institution’s long-term commitment to Egypt while highlighting the importance of further private sector reforms to unlock greater investment flows.
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According to Reuters, Maasdorp described Egypt as BII’s largest exposure on the African continent, reflecting the institution’s confidence in the country’s long-term economic potential.
The development finance institution has supported several major projects in Egypt, including investments exceeding $300 million in renewable energy initiatives such as a large wind farm in the Gulf of Suez and a solar energy and battery storage project.
Reuters reported that BII plans to invest £5 billion across Africa over five years while mobilising an additional £4 billion from private investors.
Although Maasdorp did not disclose a specific investment target for Egypt, he said future commitments would depend on viable opportunities and continued economic reforms.
He also praised Egypt’s decision to liberalise its exchange rate in 2024, describing the move as an important structural reform that has helped restore confidence among investors.
What This Means For Africa
The comments from Leslie Maasdorp highlight the growing importance of private sector development in attracting long-term investment across Africa.
Development finance institutions increasingly view private enterprise as a key driver of economic growth, job creation, innovation, and sustainable development.
For Egypt, the remarks come as President Abdel Fattah el-Sisi’s administration continues implementing reforms aimed at improving the business environment and strengthening macroeconomic stability.
Reuters reported that Maasdorp identified creating a more level playing field between state-owned and private sector businesses as the single most important step Egypt could take to attract additional investment.
Such reforms could help increase competition, improve investor confidence, and encourage greater participation from both domestic and international businesses.
The development also reflects broader conversations taking place across Africa as governments seek to balance state involvement in strategic sectors with efforts to encourage private sector growth.
As countries compete for investment capital in an increasingly challenging global environment, transparency, regulatory certainty, and equal market opportunities are becoming increasingly important considerations for investors.
For Egypt, continued progress on these reforms could help strengthen its position as one of Africa’s leading destinations for foreign direct investment while supporting long-term economic growth and development.
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Image Crredit: World Atlas
