The African Export-Import Bank (Afreximbank) and Africa Energy Investment Corporation (AEICORP) signed a cooperation agreement to enhance the energy sector.

Zarou, a MENA-focused energy development company, plans to invest $1 billion in Egypt’s energy infrastructure in 2020.

Egypt unveiled a long-awaited economic program in a bid to secure foreign aid and investment crucial to reviving its economy. The plan calls for the adoption of a value-added tax and the sale of stakes in government companies.

The Ministry of Electricity expects to sign six new agreements for Chinese investment in Egypt’s electricity infrastructure during Chinese President Xi Jinping’s visit in January.