At the Alamein Africa Forum in Egypt, African leaders and business representatives called for increased utilization of the continent’s domestic capital to propel economic growth and lessen dependence on external funding sources. The forum, which gathered over 20 heads of state, government officials, and key business figures, emphasized the importance of strengthening intra-continental economic ties.
Egyptian President Abdel Fattah Al-Sisi highlighted the significant role of Africa’s private sector in driving economic progress but noted its heavy reliance on markets outside the continent. He encouraged businesses to seek more opportunities within Africa and to bolster cross-border partnerships to foster sustainable growth.
Mahmoud Ali Youssouf, Chairperson of the African Union Commission, reported that intra-African trade reached $220 billion in 2024, accounting for 14.4% of the continent’s total trade. This marked a 12.4% increase in intra-African trade over the year, underscoring the potential for further economic integration.
The Alamein Africa Forum, set to convene biennially, will focus on critical areas such as infrastructure, trade, agriculture, healthcare, mining, technology, and renewable energy. The discussions aim to pave the way for practical strategies to enhance the continent’s self-reliance and economic resilience.