New Alamein:The Alamein Africa Forum commenced on Friday in New Alamein, northern Egypt, drawing 1,500 participants, including officials, business leaders, investors, and financial representatives from across Africa. The event spans three days and features high-level conferences centered on economic development and continental integration.
According to Anadolu Agency, Egyptian Prime Minister Mostafa Madbouly emphasized Africa's pivotal moment for economic transformation and development opportunities during his address at the forum's opening session. He highlighted the continent's abundant natural resources, sizable market, youthful population, and potential in manufacturing, energy, agriculture, technology, services, and the digital economy.
Despite these opportunities, Madbouly acknowledged the challenges Africa faces, such as securing financing, infrastructure development, high capital costs, and market linkage improvements. He stressed the need to overcome barriers that impede intra-African trade and investment. He also noted the global economic and technological shifts reshaping supply chains and production centers, urging a reevaluation of Africa as a contender in the new global economy.
The forum's agenda covers topics like trade, food security, energy, infrastructure, financing, digital transformation, artificial intelligence, and critical minerals. Discussions aim to convert development priorities into actionable projects and investments, promoting intra-African trade.
Egyptian Planning Minister Ahmed Rostom remarked on Africa's $3.6 trillion economy, pointing out that despite comprising about a fifth of the world's population, Africa's global trade share is just 1.5%. Foreign direct investment flows are also limited in comparison to the continent's potential.
New Alamein will host a summit on Saturday for the founding states of the African Union Development Agency (AUDA-NEPAD), with Egyptian President Abdel Fattah al-Sisi presiding over the meeting, attended by African leaders and officials. The 8th Mid-Year Coordination Meeting of the African Union is scheduled for Sunday.
These events are part of Egypt's initiative to enhance African economic integration, attract investments, and mobilize financing for development projects throughout the continent. The African Union has approved the biennial hosting of the Alamein Africa Forum in New Alamein, starting from February 2026. The forum is co-organized by Egypt, the African Export-Import Bank (Afreximbank), and AUDA-NEPAD.