oluwatosin oyeniyi EL ALAMEIN, Egypt — African leaders, financial institutions and business executives have called for greater investment within the continent as governments seek to reduce reliance on external financing and turn Africa’s economic resources into stronger engines of growth.
The call came at the inaugural Alamein Africa Forum, held in New Alamein, Egypt, from October 2 to 4. The forum brought together more than 20 African heads of state and government representatives, alongside senior figures from regional and international financial institutions and the private sector.
Co-organised by the Egyptian government, the African Union Commission, AUDA-NEPAD and Afreximbank, the forum was designed to strengthen investment partnerships and accelerate economic integration across Africa.
Africa Looks to Its Own Capital
At the heart of the discussions was the argument that Africa needs to make better use of its own financial resources.
Egyptian President Abdel Fattah El-Sisi said African businesses remain a major economic force, contributing more than 70% of the continent’s GDP, but much of their activity remains connected to markets outside Africa.
He pointed to the limited level of intra-African trade and called for stronger connections between African businesses, investors and neighbouring markets.
Afreximbank President George Elombi similarly argued that fragmented regulations, payment systems, customs procedures and logistics create additional costs for businesses operating across African borders.
Greater integration, he said, would allow African companies to operate at a larger scale while strengthening regional value chains.
Turning AfCFTA Into Investment
The discussions also placed the African Continental Free Trade Area (AfCFTA) at the centre of Africa’s investment ambitions.
African Union Commission Chairperson Mahmoud Ali Youssouf said the continent needed to move from ambitious plans to projects that are properly prepared, financed and implemented.
That includes improving trade corridors, harmonising customs procedures and standards, expanding cross-border payment systems and strengthening regional supply chains.
The objective is to make it easier for an investor in one African country to identify opportunities, move capital across borders and reach consumers elsewhere on the continent.
For businesses, however, integration cannot depend only on political declarations. Differences in regulations, infrastructure gaps, currency restrictions and limited access to market information continue to make cross-border investment more complicated than domestic investment.
Infrastructure and Industrialisation
The forum focused on sectors with the potential to reshape Africa’s economic growth, including infrastructure, trade, critical minerals, agriculture, healthcare, technology, energy and emerging industries.
Energy was highlighted as particularly important because reliable power is essential for industrial production, agricultural processing, mining and digital businesses.
Participants also stressed the need to move beyond exporting raw materials. Africa’s mineral resources, agricultural products and other commodities can generate greater economic value when they are processed and manufactured closer to their source.
That shift could create jobs while strengthening domestic supply chains and reducing dependence on imported finished products.
Private Sector at the Centre
The forum also sought to strengthen cooperation between governments and African businesses.
El-Sisi said African private-sector companies need better access to information about opportunities in neighbouring countries, while Afreximbank and other institutions have a role in connecting businesses with financing and markets.
For African economies, this is significant because governments alone cannot provide the capital required to close the continent’s infrastructure and development gaps.
Private investment can help finance factories, logistics networks, renewable-energy projects, healthcare facilities and technology businesses, provided investors have predictable regulations and sufficient protection.
From Commitments to Projects
One of the central questions emerging from the forum is whether the renewed push for African investment can move beyond conferences and declarations.
Burundian President Évariste Ndayishimiye proposed an African Investment and Implementation Dashboard to track major projects, their financing, responsibilities, timelines and results.
Such mechanisms could help governments and financial institutions identify projects that have stalled and improve accountability for commitments already made.
The forum’s organisers also intend for Alamein to become a permanent biennial platform for African business and investment cooperation.
Building an African Investment Market
The broader challenge is to create an environment where African capital can move more easily across African borders.
That requires stronger financial systems, reliable infrastructure, harmonised regulations and more predictable business environments. It also requires governments to make it easier for African companies to enter neighbouring markets and for investors to identify credible projects.
If those barriers are reduced, the continent’s economic integration agenda could become more tangible for businesses and communities.
The Alamein forum therefore comes at a time when Africa is seeking greater control over its economic future. Its success will ultimately be measured not by the number of leaders attending, but by whether the partnerships announced translate into financed projects, stronger trade links, industrial development and jobs.
