CAIRO – Central Bank of Egypt Governor Hassan Abdallah asserted the importance of encouraging the private sector to make direct investments, instead of depending on the heavy-burden loans, through ensuring an enhanced business climate that could handle the investment risks worrying investors.
The CBE governor made the remarks during his participation in a session held to discuss the “African Economic Outlook 2023” report, which was inaugurated by President of the African Development Bank (AfDB) Group Akinwumi Adesina.
Abdallah, who is also board chairman of the group of AfDB governors, called for introducing mechanisms meant to encourage furthering private investments across Africa, along with unlocking more profitable investments horizons.
He urged the multilateral funding institutions to play a crucial role in mobilizing the compound capital of private sector through offering technical assistance as well soft and long-term funds.
