Egypt prepares African business forum as it seeks wider continental influence

More than 20 African heads of state and government representatives are expected to attend a three-day business summit in Egypt on Friday, as Cairo seeks to strengthen its role across the continent. The inaugural Alamein Africa Forum will be held in the Mediterranean city of Alamein and is also expected to bring together business leaders, bankers and development institutions. Egypt’s deputy foreign minister for African affairs, Mohamed Abu Bakr Saleh, described the gathering to AFP as an African platform for agreements between countries in different regions.

Saleh said the forum would become a biennial event under an African Union mandate. Its proposed areas of focus include infrastructure, trade, agriculture, healthcare, mining, technology and renewable energy. The meeting forms part of Egypt’s effort to rebuild continental influence after a period in which China and Gulf states, particularly the United Arab Emirates, have become major players in Africa.

Egyptian officials estimate the country’s investments across Africa at about $14 billion. A flagship project is Tanzania’s $3 billion Julius Nyerere Hydropower Project, built by a consortium led by Egyptian companies. The summit also comes against a backdrop of limited trade within Africa.

Intra-African trade totalled $192 billion in 2023, representing about 15% of the continent’s overall trade, according to the supplied report. Africa attracted about $70 billion in foreign direct investment in 2025, compared with roughly $1.6 trillion globally, figures attributed to the United Nations. Egypt’s dispute with Ethiopia over the Grand Ethiopian Renaissance Dam is another issue surrounding the forum.

Ethiopia says the dam is essential for economic growth, while Egypt fears it could threaten Nile water supplies without a binding operating agreement. More than a decade of negotiations has not produced a settlement. Saleh said Egypt’s position on its water security remained unchanged and called the issue existential for the country.