The Egyptian Ministry of Foreign Affairs has highlighted the success of the first Aswan-Africa Business Forum, which took place from 2 to 4 October 2026 in the New Aswan City. According to the ministry's spokesperson, Nader Zaki, the forum provided Egypt with an opportunity to combine its political and economic moves towards Africa within a single framework. This move is crucial given the current African context, characterized by simultaneous political and security crises, financing pressures, and the need to accelerate industrialization and economic integration.
The forum was held in line with a decision made by the African Union Summit in February 2026 to hold the forum every two years. The event saw the participation of Egyptian President Abdel Fattah el-Sisi, as well as a wide range of African leaders, ministers, businessmen, and African companies. A total of 11 outcomes, agreements, memoranda of understanding, and a closing statement were reached during the forum, along with a wide range of presidential, ministerial, and investment meetings.
The forum's discussions led to several economic outcomes, including memoranda of understanding between the Egyptian Chamber of Commerce and its counterparts in Congo Brazzaville and Angola, as well as between the Egyptian Industries Federation and the Ghanaian Chamber of Industry and Commerce. Additionally, a cooperation agreement was signed between the Arab Academy for Science, Technology and Maritime Transport and Senghor University, and another between the Egyptian Drug Authority and the Chadian Ministry of Health and Prevention.
On the economic front, the forum's outcomes translated into direct action, with Prime Minister Mostafa Madbouly discussing with Tanzanian President Samia Suluhu Hassan ways to expand cooperation in maritime transport, ports, logistics, agriculture, and health. This includes Egyptian companies' participation in establishing and managing new berths as part of the expansion of Dar es Salaam port. The meetings also explored investment opportunities and cooperation in various sectors.
The investment move saw a wide participation, with Investment and Foreign Trade Minister, Ahmed Samir, holding over 10 meetings with institutions and companies, including the Algerian Investment Promotion Agency, Indian company "Moodyson", the African Export-Import Bank, and the Italian Export Credit Agency SACE. These meetings aimed to support start-ups and small and medium-sized enterprises and expand their access to African markets.
In the energy and mining sector, Petroleum and Mineral Resources Minister, Tarek El Molla, held meetings with heads of 10 Egyptian companies, including ENPI, Petrogas, and Wadi Kom Ombo, to explore opportunities for expansion in African markets. The Ministry of Investment and Foreign Trade, in cooperation with the African Export-Import Bank, organized an investment forum in the African automotive sector to discuss building regional value chains.
The forum demonstrated that Egypt is not only a host but also an active participant in African economic integration. With its strategic location and capabilities, Egypt aims to become a hub for economic communication within the continent and enhance its position as a partner in development, trade, investment, and manufacturing. The forum's success reflects Egypt's shift from a focus on political and security issues to a broader role in Africa's economic development.
Key points
- The Aswan-Africa Business Forum combines Egypt's political and economic moves towards Africa.
- The forum led to several economic outcomes, including memoranda of understanding and cooperation agreements.
- Egypt aims to become a hub for economic communication within Africa and enhance its position as a partner in development, trade, investment, and manufacturing.
