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Egypt will host more than 20 African Heads of State and government representatives for the inaugural three-day Alamein Africa Forum, as Cairo seeks to strengthen its economic and diplomatic influence across the continent.
The business summit, scheduled to take place in the Mediterranean city of Alamein, will bring together political leaders, investors, bankers and development institutions to discuss opportunities in infrastructure, trade, agriculture, healthcare, mining, technology and renewable energy.
The forum is part of Egypt’s broader effort to rebuild its role in Africa after years of focusing more heavily on the Middle East and Mediterranean regions. It comes as China and Gulf countries, particularly the United Arab Emirates, have expanded their economic presence across the continent.
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“This is an African platform,” Egypt’s deputy foreign minister for African affairs, Mohamed Abu Bakr Saleh, told AFP.
He said the forum would allow businesses and governments across different regions of Africa to create partnerships, adding that “a country in East Africa should be able to sign an agreement with a country in West, North or southern Africa through this platform.”
Saleh said the event would become a biennial gathering under an African Union mandate, with discussions focused on areas considered important for Africa’s economic development.
Egypt estimates its investments across Africa at about $14 billion, including its involvement in Tanzania’s $3 billion Julius Nyerere Hydropower Project, led by a consortium of Egyptian companies.
However, African countries still face challenges expanding trade within the continent. In 2023, intra-African trade stood at $192 billion, accounting for about 15 per cent of Africa’s total trade, compared with more than 55 per cent in Asia and over 70 per cent in Europe.
“Africa possesses vast resources, but they are still not being exploited to the level we would like to see,” Saleh said.
The summit is also taking place as Egypt remains locked in a dispute with Ethiopia over the Grand Ethiopian Renaissance Dam, Africa’s largest hydroelectric project.
Ethiopia says the $5 billion dam is vital for its economic growth, while Egypt has raised concerns over its impact on Nile water supplies without a binding agreement on operations.
After more than a decade of negotiations without a settlement, Saleh said Egypt’s position remains unchanged.
“Our position on Egypt’s water security has not changed and will not change,” he said. “It is an existential issue for Egypt.”
