Egyptian Prime Minister: Africa holds great opportunities in manufacturing, energy, and technology
Cairo, Oct 2 (KUNA) -- Egyptian Prime Minister Dr. Mostafa Madbouli affirmed that the African continent possesses vast natural resources, a large market, one of the youngest populations in the world, and significant opportunities in manufacturing, energy, agriculture, technology, services, and the digital economy.
The Egyptian Cabinet stated in a press release on Friday that these remarks were made by Madbouli during the welcome session of the first edition of the “Alamein-Africa Business Forum,” held in the new city of Alamein. The session was attended by several ministers, officials, business leaders, and private sector representatives from Egypt and various African countries, as well as representatives of African and international institutions and financial and development organizations.
Madbouli said there is a growing awareness of the scale of challenges facing development efforts in Africa, whether related to securing financing, developing infrastructure, high cost of capital, or the need to enhance market linkages and remove barriers that still restrict trade and investment flows within the continent.
He noted that the question is no longer about what potential Africa possesses, emphasizing that these potentials are well known and are attracting increasing attention from around the world, especially in light of recent global geopolitical shifts.
He stressed that the most important question is how to convert these potentials into real economic and developmental value, how to move from identifying opportunities to developing projects, from setting priorities to securing financing, and from dialogue to implementation.
In this context, the Egyptian Prime Minister highlighted the importance of the forum, noting that Africa needs more platforms that bring together decision-makers, investors, financial institutions, implementing companies, and development organizations in one place. It also requires dialogue that goes beyond presenting visions to directly address how to remove obstacles hindering project implementation, reduce risks, mobilize financing, and establish necessary partnerships to turn opportunities into tangible realities.
He pointed out that through Agenda 2063, the African Continental Free Trade Area (AfCFTA), and other continental frameworks and initiatives, Africa has chosen to move in a more comprehensive direction toward economic integration, enhancing intra-African trade, and developing shared infrastructure. He clarified that the success of these paths requires the private sector to be a genuine partner in formulating and implementing solutions.
Madbouli affirmed that Egypt hopes the forum will provide a real space to listen to the vision of the African and international business community and to directly identify the challenges facing investors and companies in African markets, as well as to explore ways to strengthen public-private partnerships.
The Egyptian Prime Minister expressed his hope that bilateral meetings and encounters between governments and companies, as well as among companies themselves, would open new horizons for cooperation and build partnerships that extend beyond the duration of the forum.
Egyptian President Abdel Fattah El-Sisi is scheduled to open the “Alamein-Africa” forum in the new city of Alamein tomorrow, Saturday. The forum will see wide participation from African leaders and officials, alongside representatives of the business community and African and international economic institutions.
El-Sisi will also preside over the summit of founding countries of the African Union Development Agency (AUDA-NEPAD), under a co-presidency with the President of Angola, who chairs the Agency’s Steering Committee of Heads of State and Government. The summit will be attended by presidents and representatives of the Agency’s founding countries—Egypt, Algeria, Nigeria, Senegal, and South Africa—as well as the President of Burundi in his capacity as the current African Union Chair, and representatives of the African Union Commission and the Executive Director of AUDA-NEPAD.
El-Sisi will also participate in the eighth mid-year coordination meeting of the African Union, hosted by Egypt on Sunday, with the participation of several African leaders and heads of regional economic communities. (End) A.S.M. / M.A.A.
