Egypt's Investment and Foreign Trade Minister, Mohamed Farid, has announced plans to increase investments by Egyptian companies in African markets, while boosting exports and intra-African trade. Speaking at a business forum organised by the Egyptian Junior Business Association (EJB) in cooperation with Granite Financial Holding, Farid emphasized that Egypt's economic ties with Africa should extend beyond exports to include investment, production, services, and deeper market integration. The forum brought together representatives from around 25 African countries, government entities, financial and development institutions, and private-sector companies.
The business forum aimed to discuss investment and trade opportunities and ways to connect Egyptian businesses with African markets. Participants included high-ranking officials such as Mustafa Shekhoun, Chairperson of the General Authority for the Suez Canal Economic Zone, and Abdel Aziz El Sherif, Head of Egypt's Commercial Representation. Other attendees included representatives of the Islamic Development Bank, the General Authority for Investment and Free Zones (GAFI), Afreximbank, and the International Islamic Trade Finance Corporation. The event provided a platform for stakeholders to explore opportunities for collaboration and investment.
According to Minister Farid, the government is working through Egypt's commercial representation offices and other entities to identify export and investment opportunities for Egyptian companies. This initiative is driven by shifts in global trade and supply chains, which have increased the importance of stronger African economic cooperation. Egypt is preparing to announce an investment fund to support investments in Africa during the Africa–Alamein Forum, scheduled for next month in Alamein. Preparations include identifying projects that could be implemented alongside the fund's launch.
The investment fund has already mobilised around $50m, with efforts underway to attract additional financing, regional institutions, and investors. Egyptian companies are already pursuing investments in several African markets, including two investments in Kenya, a financial-sector investment in Nigeria, and a real estate investment in Côte d'Ivoire. Minister Farid also disclosed that Egypt is working with South Africa to organise a workshop on cooperation in automotive manufacturing and components, with the aim of developing joint value chains.
Minister Farid stressed that transport and logistics connectivity are critical to expanding intra-African trade, noting Egypt's efforts to strengthen links with COMESA and East Africa and make greater use of the African Continental Free Trade Area (AfCFTA). The private sector has welcomed plans for the Africa investment fund, saying financing mechanisms could encourage Egyptian companies to invest in strategic sectors such as agriculture, food industries, energy, healthcare, education, technology, and manufacturing.
EJB Chairperson Mohamed Abu Basha said the forum aims to establish direct links between Egyptian companies and African markets and address the information gap facing businesses seeking to expand across the continent. Around 25 African embassies were represented at the event, while EJB members operate across various sectors, including agriculture, industry, engineering, energy, education, healthcare, pharmaceuticals, consulting, and ICT. Abu Basha noted that intra-African trade accounts for around 15% of the continent's total trade, highlighting the need for greater investment and long-term partnerships alongside trade.
The private sector has expressed its commitment to supporting platforms that connect businesses with African markets and facilitate dialogue, partnerships, and new investments. Hisham Akram, Founder and CEO of Granite Financial Holding, said stronger Egyptian private-sector engagement in Africa requires connecting companies with opportunities, markets, and institutions capable of supporting expansion. The collaboration between the public and private sectors is expected to play a crucial role in driving Egypt's investment and trade ambitions in Africa.
Key points
- Egypt plans to announce an investment fund to support investments in Africa.
- The fund has already mobilised around $50m, with efforts underway to attract additional financing.
- Egypt is working to strengthen transport and logistics connectivity to expand intra-African trade.
