Egyptian Investment and Foreign Trade Minister Dr. Mohamed Farid Saleh recently met with Hisham Al-Maairiji, Deputy President of the African Export-Import Bank (Afreximbank), and Shiro Aquino, Head of the Middle East and Africa sector at Italian Export Credit Agency (SACE). The meetings, held on October 3, 2026, aimed to explore ways to enhance export financing tools and support for Egyptian companies looking to expand into African markets. These discussions took place during the GO63 Africa forum in El Alamein.
Minister Dr. Farid Saleh emphasized the importance of developing financing tools and commercial credit guarantees to mitigate risks associated with expanding into foreign markets. This would facilitate project financing and enhance Egyptian companies' ability to access and capitalize on available trade and investment opportunities in Africa. By doing so, Egypt aims to bolster its export capabilities and encourage national companies to venture into new markets.
The minister highlighted the need to identify the specific needs and challenges faced by Egyptian companies. He stressed the importance of connecting these businesses with financial institutions to provide tailored solutions that support their growth and international expansion. This approach is expected to help Egyptian companies navigate the complexities of exporting and investing in Africa.
Discussions with Afreximbank focused on potential cooperation within the framework of Egypt's "Egypt Launches Exports" initiative. This aims to link Egyptian companies with financial and trade opportunities in African markets, thereby promoting Egyptian exports and investments across the continent. The initiative seeks to leverage Afreximbank's capabilities to support Egyptian businesses.
The meeting with SACE centered on utilizing export credit and financing tools to support Egyptian companies' outward expansion. The two parties also explored potential cooperation in renewable energy projects and green transformation initiatives. This collaboration is expected to contribute to Egypt's efforts to transition towards a more sustainable and environmentally friendly economy.
Egyptian authorities are keen on fostering partnerships between local companies and international financial institutions. By doing so, they aim to provide Egyptian businesses with the necessary tools and resources to compete effectively in African markets. This strategic approach is part of Egypt's broader efforts to enhance its trade and investment relations with African countries.
The GO63 Africa forum provided a platform for high-level discussions on trade and investment opportunities in Africa. The event brought together leaders from the Egyptian Investment Authority, the Sovereign Wealth Fund, and the Export Development Authority. The forum underscored Egypt's commitment to strengthening economic ties with African nations and promoting intra-African trade.
Key points
- Egypt's Investment Minister Dr. Mohamed Farid Saleh met with Afreximbank and SACE to discuss export financing and support for Egyptian companies expanding into African markets.
- Egypt aims to develop financing tools and commercial credit guarantees to mitigate risks associated with expanding into foreign markets.
- The "Egypt Launches Exports" initiative seeks to link Egyptian companies with financial and trade opportunities in African markets.
