Egypt Watch

Foreign investors sue Egypt for $15 billion

Egypt is one of several African countries that have been sued by foreign investors due to low profits as a result of domestic policies, according to a report by Transnational.

The Transnational Foundation for Peace and Future Research is a research centre aimed at building a more just, democratic and sustainable planet, based in Amsterdam.

African countries have been fined $4.6 billion, the foundation said.

Investors have sued 28 African countries in special international tribunals to which investors have access, and confirmed that Egypt, Libya and Algeria have a share of more than half of these cases. Investors have asked Egypt and Algeria to pay combined amounts estimated at $15 billion each.

African countries such as South Africa and Tanzania have begun to emerge from the dispute settlement system between investors and countries, the foundation said.