African leaders have agreed to establish the Alamein Investment Platform by February 2027 and launch a continental facility for small and medium-sized enterprises by mid-2027. This move aims to address the severe financial constraints facing the African Union Development Agency (AUDA-NEPAD). The measures were adopted in the Alamein Declaration on October 3 by the heads of state and government of Algeria, Egypt, Nigeria, Senegal, and South Africa. The summit marked the 25th anniversary of NEPAD's evolution into AUDA-NEPAD.
The Alamein Declaration highlights the decline in financial contributions from African member states to the AUDA-NEPAD programme budget, compromising the agency's ability to fulfil its mandate. Leaders expressed concern over broader development finance constraints, shifts in geopolitical dynamics, and Africa's underrepresentation in global financial governance. They acknowledged the need for a shift from project-by-project interventions to continent-wide transformation. The leaders stated that the current moment demands renewed political will to fund, trust, and defend African institutions through practical measures.
The Alamein Investment Platform will consolidate private capital pledges from the Alamein forum, with portfolio values reported biennially. A curated portfolio of bankable, investment-ready flagship projects will be presented for private and blended finance, with financial closure rates tracked. The continental SME and value chain facility will launch by the mid-2027 AU Coordination Summit, reporting on supported enterprises and jobs created for youth and women.
The leaders mandated four outputs coordinated by AUDA-NEPAD, the AU Commission, Regional Economic Communities (RECs), and African multilateral development banks. These outputs include the Alamein Investment Platform, a curated portfolio of flagship projects, the continental SME facility, and at least one African-led de-risking and blended finance tool. The tool must be operationalised within 18 months, leveraging commitments from the Alliance of African Multilateral Financial Institutions (AAMFI).
The leaders decided to reposition AUDA-NEPAD as a more flexible and responsive institution. The agency was instructed to submit proposals to the next HSGOC meeting for more adaptable staff and financial regulations. Member states were urged to mobilise additional resources, increase predictable core funding to offset budget cuts, and provide voluntary contributions.
The Alamein Africa Business Forum was welcomed as a permanent biennial platform in Egypt to mobilise African private capital for the Second Ten-Year Implementation Plan (STYIP2) of Agenda 2063. The agenda remains the roadmap for inclusive growth, structural transformation, regional integration, human capital development, and climate resilience. The founding members celebrated 25 years of progress in infrastructure, agricultural transformation, regional value chains, and institutional capacity.
The summit concluded with appreciation for host nation Egypt and co-convener Angola, a pledge to convene the founding members' summit periodically, and a renewed commitment to a self-reliant, peaceful, and integrated Africa funded by predictable, African-owned capital. The declaration reaffirmed the private sector, SMEs, youth, and women as engines for innovation, sustainable industrialisation, and job creation.
Key points
- African leaders agree to establish the Alamein Investment Platform and continental SME facility to address AUDA-NEPAD funding constraints
- The Alamein Declaration highlights the need for a shift from project-by-project interventions to continent-wide transformation
- The leaders mandated four outputs coordinated by AUDA-NEPAD, the AU Commission, RECs, and African multilateral development banks
