Egyptian Investment and Foreign Trade Minister, Dr. Mohamed Farid Saleh, met with Afreximbank's Deputy President, Hitham Al-Ma'ayirji, and SACE's Middle East and Africa Head, Shiro Aquino, to explore ways to enhance export financing tools and guarantee exports. This meeting took place at the GO63 Africa conference in El Alamein, with several high-ranking officials in attendance. The goal of these discussions was to support the expansion of Egyptian companies into African markets.
Minister Farid 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 enable Egyptian companies to access African markets, taking advantage of available trade and investment opportunities. By doing so, Egypt aims to increase its presence in Africa and capitalize on the continent's growing economy.
The minister highlighted the need to identify the specific needs and challenges faced by Egyptian companies and connect them with financial institutions. This would provide more tailored solutions, supporting the growth and international expansion of these businesses. The talks with Afreximbank focused on cooperation opportunities within the "Egypt Launches Exports" initiative, linking Egyptian companies with financial and trade opportunities in Africa.
Discussions with SACE centered on utilizing export credit and financing tools to support outward expansion, as well as potential cooperation in renewable energy and green transformation projects. These collaborations aim to promote sustainable development and facilitate Egypt's transition to a more environmentally friendly economy. By leveraging these partnerships, Egyptian companies can better navigate the complexities of international trade.
The meetings were part of a broader effort to strengthen economic ties between Egypt and Africa. The government has been actively working to enhance trade and investment relationships with countries on the continent. This includes exploring new opportunities for cooperation and fostering a more favorable business environment.
Egypt's efforts to boost its presence in African markets are aligned with its goal of becoming a major economic hub in the region. The country has been investing in infrastructure development and implementing policies to attract foreign investment. By supporting the growth of its companies in Africa, Egypt aims to increase its economic influence and diversify its trade relationships.
The value of trade between Egypt and other African countries has been steadily increasing. According to recent data, the trade exchange between Egypt and Nile Basin Initiative (NBI) countries reached $1.1 billion in the first seven months of 2026. This growth in trade is expected to continue, driven by Egypt's strategic location and its efforts to strengthen economic ties with its African neighbors.
Key points
- Egypt's Investment Minister is working to enhance partnerships between local companies and financial institutions to support export capabilities.
