The Africa-Alamein Business Forum, held in the Egyptian city of Al-Alamein, has brought together delegations from various countries, investors, ministers, and young entrepreneurs to discuss ways to strengthen economic exchanges and cooperation between African actors. The forum, which took place over three days, saw the participation of several high-ranking officials and business leaders from across the continent. The event was marked by the signing of several agreements and memoranda of understanding aimed at promoting economic cooperation and investment.
One of the key outcomes of the forum was the announcement of the Al-Alamein Declaration, which was adopted under the joint presidency of Egypt and Angola during the Summit of Founding States of the African Union Development Agency (AUDA-NEPAD). The declaration institutionalized the forum as a permanent platform to be held every two years, emphasizing the central role of the private sector in implementing the African Union's Agenda 2063. The declaration also highlighted the need for increased investment and cooperation between governments and the private sector.
The forum also saw the creation of the Al-Alamein Investment Platform, which aims to bring together private sector commitments and investment pledges made during the forum. The platform is expected to be launched by the African Union summit in February 2027. Additionally, the Al-Alamein Declaration included the launch of a continental mechanism to support small and medium-sized enterprises (SMEs) by 2027, as well as the deployment of an African risk mitigation instrument for investment and mixed financing within 18 months.
Several countries signed agreements and memoranda of understanding on the sidelines of the forum, covering various sectors such as investment, agriculture, tourism, aquaculture, health, and pharmaceuticals. Egypt signed a series of cooperation agreements with South Africa, Equatorial Guinea, and Chad, aimed at promoting economic cooperation and investment between the countries. These agreements included the establishment of a joint commission to oversee political, economic, and commercial cooperation between Egypt and South Africa.
The forum also saw the launch of several strategic initiatives aimed at promoting economic development across the continent. Egypt and South Africa officially launched a joint business council, which will focus on promoting economic cooperation and investment between the two countries. The council's main initiatives include a mining and mineral partnership, an automotive and mobility partnership, and a renewable energy and green industry platform.
In addition to these agreements and initiatives, the forum also saw the launch of several other programs aimed at promoting economic development in Africa. The African Export-Import Bank (Afreximbank) announced a $1 billion financing program for the continental automotive sector, while the Egyptian group El-Araby partnered with South African company Malben Engineering to manufacture automotive components. The African Continental Free Trade Area (AfCFTA) and the African Association of Automotive Manufacturers (AAAM) also updated their partnership to increase the continental integration of automotive production to at least 40%.
The forum also highlighted the need for increased investment in the healthcare sector, with Ghanaian President John Dramani Mahama announcing the launch of the "H-Enabler" health investment platform. The platform aims to simplify regulatory procedures and build regional health value chains across the continent. The forum also saw the launch of the "100 Million Learners Global Initiative", which aims to provide high-quality training to 100 million people by 2030 in areas such as management, leadership, entrepreneurship, and innovation.
Key points
- The Africa-Alamein Business Forum has concluded with a series of agreements and initiatives aimed at promoting economic cooperation and private sector investment across the continent.
- The Al-Alamein Declaration institutionalized the forum as a permanent platform to be held every two years, emphasizing the central role of the private sector in implementing the African Union's Agenda 2063.
- The forum saw the launch of several strategic initiatives, including the Al-Alamein Investment Platform, a continental mechanism to support SMEs, and an African risk mitigation instrument for investment and mixed financing.
