Egyptian Prime Minister Dr. Mostafa Madbouly has emphasized the need for Africa to capitalize on its vast natural resources, large market, and youthful population to drive development. Speaking at the first African Business Forum in the New Administrative Capital, Madbouly noted that the continent is at a critical juncture. He stressed that Africa's potential is well-known and has attracted increasing interest globally, particularly in light of recent geopolitical shifts.
Madbouly acknowledged that there are challenges to development, including financing, infrastructure development, high capital costs, and trade barriers. He emphasized that the question is no longer about Africa's potential, but rather how to convert this potential into real economic and developmental value. The Prime Minister highlighted the importance of the African Business Forum, which aims to bring together decision-makers, investors, financial institutions, and the private sector to drive growth.
The forum, co-organized by the Egyptian government, the African Union Commission, the African Union Development Agency (NEPAD), and the African Export-Import Bank, seeks to create a platform for sustainable dialogue and interaction between governments, the private sector, and development finance institutions. Madbouly expressed hope that the forum will facilitate the exchange of ideas, identify challenges, and explore solutions to enhance partnerships between the public and private sectors.
Madbouly emphasized that Africa has chosen a path of deeper economic integration, trade, and infrastructure development through initiatives such as Agenda 2063 and the African Continental Free Trade Area. He stressed that the success of these initiatives requires the active participation of the private sector in shaping solutions and implementation. The Prime Minister noted that governments set policies and frameworks, while development finance institutions provide funding and risk mitigation tools.
The Egyptian government is committed to supporting African development and integration, Madbouly said, citing Egypt's recent role as chair of the NEPAD steering committee. He expressed hope that the forum will lead to new partnerships and collaborations that go beyond the event itself. The Prime Minister also highlighted the significance of the forum's location in the New Administrative Capital, which represents a model for what can be achieved with vision, planning, and investment in infrastructure.
Madbouly concluded by emphasizing that Africa's future must be built through partnerships between its people and with international partners, based on mutual interests and benefits. He stressed that the continent's potential must be converted into investments, industries, and jobs to drive growth and prosperity for its people. The forum aims to contribute to this effort by fostering dialogue and cooperation between governments, the private sector, and development finance institutions.
The forum's discussions will focus on various themes, including investment opportunities, infrastructure development, and innovative financing solutions. Participants will also explore ways to address the challenges facing investors and companies in African markets. The event provides a platform for African countries to showcase their potential and for international partners to engage with the continent's growing economies.
Key points
- The African Business Forum aims to create a platform for sustainable dialogue and interaction between governments, the private sector, and development finance institutions to drive growth and development in Africa.
- Egyptian Prime Minister Dr. Mostafa Madbouly emphasized the need for Africa to capitalize on its vast natural resources, large market, and youthful population to drive development.
- The forum seeks to facilitate the exchange of ideas, identify challenges, and explore solutions to enhance partnerships between the public and private sectors in Africa.
