Egypt rebounded from a $480 million FDI loss in 2011 to $46.6 billion in 2024, an over 9,000% surge, marking its highest inflow in 30+ years

Key Takeaways

  • Egypt attracted $46.6B in FDI in 2024, the highest in 35 years and nearly quadruple 2023’s $9.8B inflow.
  • Average FDI between 1990–2023 was just $4.9B, meaning 2024’s figure is over 9× the long-term average.
  • Prior to 2024, FDI peaked at $11.6B in 2007, with only three other years, 2008, 2022, and 2023 crossing the $9B mark.
  • In 2011, Egypt recorded –$0.48B in FDI, meaning more foreign investment left the country than came in, largely due to the Arab Spring unrest.
  • The 2005–2010 period was previously Egypt’s strongest run, averaging over $8B annually before political instability triggered sharp declines.

Between 1990 and 2024, Egypt’s FDI trajectory reflected decades of economic shifts, policy reforms, and political events. After steady gains in the 1990s and early 2000s, inflows surged to $11.6 billion in 2007, only to crash to –$0.48 billion in 2011 amid the Arab Spring, when capital flight outpaced new investments. Recovery followed gradually, with annual FDI stabilising between $5 billion and $8 billion for much of the next decade.

The turning point came in 2024, when Egypt attracted a record-breaking $46.6 billion in FDI—its highest ever. This massive jump was largely driven by the $35 billion Ras El Hekma deal with Abu Dhabi’s sovereign wealth fund (ADQ), signalling renewed investor confidence. The 2024 figure is nearly 10 times Egypt’s long-term annual average and cements the country’s position as one of the most dynamic FDI destinations globally.

Source:

UNCTAD

Period:

1990 - 2024
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Kenya and Nigeria accounted for nearly half ($2.45bn) of Africa’s top 10 outward FDI in 2025
  • Kenya led Africa’s outward FDI in 2025, recording $1.26bn.
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Nigeria’s FDI inflow crossed $4bn for the first time since 2014
  • Nigeria’s FDI inflows rose to $4.01 billion in 2025, the highest level since 2014.
  • The 2025 figure represents a 148% increase from the revised $1.61 billion recorded in 2024.
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Nigeria’s FDI inflows rose to 4th in Africa after a 148% increase, while Egypt remained the continent’s top destination
Egypt remained Africa’s top FDI destination with $15.45bn. Nigeria ranked 4th after FDI inflows rose 148% to $4.01bn. Guinea had the biggest top-10 jump, rising 454% to $7.76bn. Africa’s top 10 accounted for 73% of total FDI inflows.
Europe, Asia, and the Americas have attracted a combined 94% of global foreign investment since 1990, leaving Africa and Oceania with just 6%
  • Europe ($12.58 trillion), Asia ($11.88 trillion), and the Americas ($11.49 trillion) are nearly tied after 35 years, each capturing roughly a third of global FDI
  • Asia grew from just $25 billion annually in 1990 to consistently attracting $600-700 billion per year, showing the most stable growth pattern
  • Major crises (2001, 2008-09, 2020, and 2022) caused dramatic swings, with Europe even recording negative flows in 2022
  • Africa and Oceania combined received just 6% of total FDI, remaining far behind despite Africa's recent acceleration to $97 billion in 2024
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  • Africa attracted $97 billion in total FDI inflows in 2024.
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  • West Africa ranked second with $15 billion (15.3%).
  • East Africa secured $13 billion (13.3%).
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Nigeria’s share of Africa’s FDI collapsed from ~38% in 1994 to barely 1.1% in 2024
  • Nigeria’s FDI share plunged from 35% in 1990 to 1.1% in 2024.
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  • Q1 2025 inflow was only $126.3 million, showing persistent weakness.
  • Decline mirrors structural hurdles — unstable policies, forex issues, and weak infrastructure.
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