By Asaye Bankole
More than 20 African heads of state and government representatives are expected to gather in Egypt on Friday for the inaugural Alamein Africa Forum, a three-day business summit aimed at strengthening economic cooperation and investment across the continent.
The summit, which will take place in the Mediterranean city of Alamein, is part of Egypt’s renewed efforts to expand its economic and diplomatic influence across Africa amid growing competition from China and Gulf countries, particularly the United Arab Emirates.
Egypt, which has traditionally focused much of its foreign policy attention on the Middle East and the Mediterranean region, has increasingly sought to strengthen its engagement with African countries through trade, infrastructure development and investment.
The forum is expected to bring together African political leaders, business executives, bankers, investors and representatives of development institutions.
Discussions will focus on key sectors including infrastructure, agriculture, healthcare, mining, technology, renewable energy and intra-African trade.
Egypt’s Deputy Foreign Minister for African Affairs, Mohamed Abu Bakr Saleh, described the gathering as an African platform designed to promote stronger economic partnerships between countries across different regions of the continent.
According to Saleh, the forum is expected to become a biennial event under the auspices of the African Union, providing an avenue for African countries to establish business partnerships and investment agreements beyond their immediate regions.
He said the platform could, for instance, enable businesses in East Africa to establish agreements with companies and governments in West, North and Southern Africa.
Egyptian officials estimate that the country’s investments across Africa are currently worth about $14 billion. One of its major projects on the continent is Tanzania’s $3 billion Julius Nyerere Hydropower Project, which was constructed by a consortium led by Egyptian companies.
Despite the continent’s significant natural resources and growing population, intra-African trade remains relatively low. Trade among African countries totalled about $192 billion in 2023, representing roughly 15 per cent of the continent’s overall trade.
This compares with more than 55 per cent of trade conducted within Asia and over 70 per cent in Europe, highlighting the challenges facing efforts to deepen economic integration across Africa.
Africa also attracted about $70 billion in foreign direct investment in 2025, according to United Nations figures.
The amount represented only a small portion of the estimated $1.6 trillion in global foreign investment during the same period.
Saleh said Africa had enormous natural and economic resources but acknowledged that much of its potential remained underdeveloped.
The Alamein summit is also taking place against the backdrop of Egypt’s long-running dispute with Ethiopia over the Grand Ethiopian Renaissance Dam, or GERD, which Ethiopia has built on the Blue Nile.
The approximately $5 billion hydroelectric project was inaugurated last year and is regarded by Ethiopia as a major source of electricity and an important component of its plans for economic development.
Egypt, however, has repeatedly expressed concern that the operation of the dam could affect the flow of Nile water on which the country heavily depends. Cairo has called for a legally binding agreement governing the filling and operation of the dam.
More than a decade of negotiations between Egypt, Ethiopia and Sudan have failed to produce a final agreement.
Egyptian officials continue to describe the issue as a matter of national security and water security, with Saleh reiterating that Cairo’s position on protecting its access to Nile waters remains unchanged.
The business summit is therefore expected to serve not only as a platform for investment and economic cooperation but also as part of Egypt’s broader efforts to deepen its relationships with countries across Africa.
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