Egyptian Prime Minister Dr. Mostafa Madbouly has emphasized the need for Africa to translate its vast natural resources and youthful population into tangible economic and developmental value. Speaking at the first African Business Forum in El Alamein, Madbouly highlighted the continent's significant potential in areas such as manufacturing, energy, agriculture, technology, and digital economy. He stressed that Africa's progress is crucial for the global economy.
The forum, co-organized by the Egyptian government, the African Union Commission, the African Union Development Agency (NEPAD), and the African Export-Import Bank, brings together ministers, business leaders, and representatives from various African countries and international institutions. Madbouly expressed his hope that the forum will provide a platform for the African business community to share their vision and identify challenges facing investors and companies in African markets.
Madbouly acknowledged that Africa faces significant development challenges, including limited access to financing, inadequate infrastructure, and high capital costs. He emphasized the need for innovative solutions to address these challenges and unlock the continent's potential. The prime minister also highlighted the importance of the African Continental Free Trade Area (AfCFTA) and Agenda 2063 in promoting economic integration and cooperation.
The Egyptian government is committed to supporting African development and integration, Madbouly said. He noted that Egypt has played an active role in promoting African development, particularly during its chairmanship of the NEPAD Steering Committee over the past three years. Madbouly emphasized the need for partnerships between governments, the private sector, and international institutions to drive development and growth.
The forum aims to promote dialogue and cooperation between governments, the private sector, and development institutions. Madbouly expressed his hope that the forum will lead to concrete partnerships and investments that can drive growth and development in Africa. He also highlighted the importance of cities such as El Alamein in driving economic growth and development.
El Alamein, where the forum is being held, is a model for what can be achieved through visionary planning, investment in infrastructure, and strong leadership, Madbouly said. He emphasized the city's strategic location on the Mediterranean coast and its potential to become a hub for trade and investment.
Key points
- Dr. Mostafa Madbouly calls for increased investment and cooperation to unlock Africa's vast potential.
- The forum aims to promote dialogue and cooperation between governments, the private sector, and development institutions.
- Egypt is committed to supporting African development and integration.
