The first Alamein Africa Forum, which gathered about 1500 African business leaders, opened in Egypt on Friday. The main focus of the event is investment, trade, and economic cooperation between countries on the continent.
The forum is taking place in the northern coastal city of El Alamein from October 2 to 4 and aims to deepen economic ties and integration among African states. The organizers are the Egyptian government, the African Export-Import Bank, and the African Union Development Agency.
Egypt's Minister of Planning and Economic Development, Ahmed Rostom, stated that Africa is 'of the highest strategic importance to Egypt.' He called for a change in approach to the continent, viewing it not only as a market but as a unified economic system.
Rostom proposed a 'joint innovation' model that would connect Egyptian and other African entrepreneurs through technology exchange and cross-border regional value chains. Furthermore, he strongly recommended actively utilizing 'patient capital' and venture capital to support investments within the African Continental Free Trade Area.
According to the minister, this could help Egypt become a launchpad for African startups aiming to enter global markets. The Alamein Africa Forum has been established as a biennial African business forum to be held in Egypt.