The Alamein-Africa Forum, held from 2 to 4 October, has brought together around 1,500 participants, including African governments, business leaders, and investors. The forum aims to strengthen intra-African trade, attract investment, and turn the continent's economic potential into tangible projects. This event is designed to become a biennial platform for African economic cooperation. It is taking place in New Alamein, a city on Egypt's Mediterranean coast that is being positioned as a destination for international business and investment.
The forum comes at a challenging time for African economies, which are facing pressures such as higher energy and fertilizer costs, disrupted supply chains, and geopolitical uncertainty. Egypt, as a host country, sits at the intersection of Africa, the Middle East, and Europe, with significant transport, energy, and trade infrastructure. The Egyptian government is promoting New Alamein as a hub for international business and regional gatherings. The African Union has endorsed the Alamein-Africa Forum as a biennial initiative, with Egypt, the African Union Commission, and Afreximbank among its organizers and partners.
The role of the African private sector is a key theme emerging from the forum. According to figures cited by Egyptian President Abdel Fattah El-Sisi, the private sector accounts for over 70 percent of Africa's GDP, but most transactions involving African private-sector companies take place with companies outside the continent. The forum aims to address this gap by bringing investors, entrepreneurs, and policymakers into direct contact. The founding members of the New Partnership for Africa's Development agreed to pursue the establishment of an Alamein Investment Platform by February 2027.
Intra-African trade remains relatively low, at around 18 percent of total African trade, according to figures highlighted at the forum. Businesses need efficient infrastructure, compatible customs procedures, reliable payment systems, and access to market information. The African Union Commission's Mahmoud Ali Youssouf emphasized that the African Continental Free Trade Area needs to become a functioning market supported by trade corridors and integrated border posts.
On the sidelines of the forum, President El-Sisi met with Nigerian industrialist and billionaire Aliko Dangote to discuss potential cooperation between Dangote Group and Egypt. Dangote's business group has interests in cement, fertilizer, energy, and food, and its expansion across African markets demonstrates the scale that African companies can achieve when investing beyond their home countries. El-Sisi also highlighted Dangote's connection to Egypt as an example of the continent's cultural and educational links.
The forum has produced concrete government-to-government agreements, including cooperation agreements between Egypt and South Africa, Equatorial Guinea, and Chad. These agreements cover trade, investment, development, and wider African cooperation. Egypt and South Africa agreed to establish a high-level joint committee to oversee cooperation, while Egyptian companies are expected to participate in Equatorial Guinea's development projects.
With plans to hold the forum every two years, future editions will provide an opportunity to measure progress against the commitments made in New Alamein. The next editions will also build on the momentum generated by this inaugural event, which has brought together key stakeholders to drive African economic cooperation and growth.
Key points
- The Alamein-Africa Forum aims to strengthen intra-African trade and attract investment to the continent.
- The forum has produced concrete government-to-government agreements, including cooperation agreements between Egypt and several African countries.
- The African private sector is a key driver of the continent's economy, accounting for over 70 percent of Africa's GDP.
