Egyptian President Abdel Fattah El-Sisi delivered a speech at the summit of the founding countries of the African Union Development Agency "NEPAD" in New El Alamein City. He emphasized that Africa and the world have witnessed radical changes over the past few decades. The President highlighted the crucial role of technology, digital transformation, and innovation in shaping countries' capabilities. He stressed that building a knowledge-based economy, investing in human capital, and empowering youth are essential for achieving sustainable development.
President El-Sisi noted that 25 years have passed since the launch of the New Partnership for Africa's Development (NEPAD) initiative, which has contributed to supporting infrastructure development in Africa. He expressed his pleasure in welcoming participants to New El Alamein City for a meeting that coincides with this milestone. The President added that NEPAD has evolved into the African Union's executive arm in translating the objectives of Agenda 2063 into tangible development programs and projects.
The Egyptian President emphasized the need to develop a new vision for development that keeps pace with rapid changes and prioritizes the African human being in the development process. He highlighted the private sector's role as a primary driver of development and growth, as well as job creation. However, President El-Sisi noted that governments must provide a favorable investment environment by developing infrastructure, enhancing legislative and regulatory frameworks, and ensuring stability and the rule of law.
President El-Sisi also stressed the importance of strengthening partnerships between the public and private sectors and creating more effective mechanisms for financing development. He mentioned that Egypt, during its chairmanship of the agency's steering committee, has given special priority to "financing for development" and working to bridge financing gaps. The President also referred to the initiative to establish a development fund affiliated with the African Union under the "Team Africa" initiative.
The summit was attended by leaders and representatives of the founding countries of the African Union Development Agency "NEPAD", including Egypt, Algeria, Nigeria, Senegal, and South Africa. The meeting also included the President of Burundi, as the current Chair of the African Union, and the President of Angola, as the current Chair of the agency's steering committee. The participants discussed ways to enhance the agency's role in supporting development efforts in Africa and mobilizing resources for development projects.
The Egyptian President's speech was followed by a statement from the spokesperson for the Egyptian Presidency, who provided details about the summit's discussions. The spokesperson mentioned that the meeting reviewed progress in implementing the African Union's Agenda 2063 and ways to strengthen coordination among African countries to address common economic and development challenges.
The NEPAD summit concluded with a renewed commitment to promoting development and integration in Africa. The participants agreed to continue supporting the agency and enhancing its institutional capacity to achieve tangible development outcomes. The Egyptian President and his Angolan counterpart, President João Lourenço, co-chaired the summit, which marked a new phase in the agency's work.
Key points
- The Egyptian President emphasizes the need for a new vision for development that prioritizes the African human being.
- The private sector is highlighted as a primary driver of development and growth.
- The summit discussed ways to enhance the agency's role in supporting development efforts in Africa.
