Egyptian President Abdel Fattah el-Sisi inaugurated the first El Alamein-African Business Forum in the New El Alamein city. He welcomed attendees, highlighting the city's historical significance and its current status as a development and prosperity model. The President emphasized that the world is currently facing successive crises and rapid transformations, interlinking geopolitical tensions with developmental and economic challenges.
President el-Sisi stressed that in such critical moments, nations need to boost their capabilities to enhance resilience and build their future and that of their people. He pointed out that economic development cannot be achieved in unstable countries and that stability is a fundamental requirement for investors, manufacturers, and farmers to operate in a secure environment.
The Egyptian President underlined that in Africa, security begins with supporting national states and institutions, respecting their unity and sovereignty, and prioritizing peaceful solutions to conflicts and crises. He added that Egypt has always been at the forefront of countries supporting this vision, launching and backing developmental and economic initiatives in Africa.
President el-Sisi explained that Egypt is hosting the first El Alamein-African Business Forum, which was approved by the African Union in February 2026. The forum aims to provide a strategic continental platform to mobilize efforts to achieve the goals of Africa's Agenda 2063 and translate African joint business ambitions into tangible reality.
According to President el-Sisi, statistics indicate that the African private sector is the most significant driver of the continent's economies, contributing over 70% to Africa's GDP. However, around 85% of African private sector transactions occur with companies outside the continent. Moreover, over 50% of small and medium-sized enterprises lack sufficient information about opportunities in neighboring African markets.
Despite the existence of preferential trade agreements and arrangements among African countries, the intra-African trade rate has not exceeded 18% of the continent's total trade in recent years. President el-Sisi emphasized the need for stronger economic ties within the continent to achieve sustainable development and prosperity.
The El Alamein-African Business Forum provides an opportunity for the African private sector to interact with state leaders, discuss challenges facing the private sector, and build cross-border partnerships to drive economic integration and achieve continental development goals. The forum is a collaborative effort between Egypt, the African Union's development agency NEPAD, the African Export-Import Bank, and the African Union.
Key points
- The African private sector contributes over 70% to Africa's GDP but mostly transacts with companies outside the continent.
