The initiative includes both direct financing—targeting sectors such as banking and strategic commodities—and indirect support for African projects led by Egyptian firms.
The African Export-Import Bank (Afreximbank) has unveiled plans to allocate $2 billion in financing to Egypt next year, reinforcing the North African nation’s ambitions to position itself as a regional trade and investment hub.
Speaking at the FOCUS Africa Investment and Trade Forum held in Cairo on Tuesday, Ayman El-Zoghbi, Head of Intra-African Trade, Investment, and Corporate Finance at Afreximbank, detailed the bank’s 2025 support plan for Egypt.
The initiative includes both direct financing—targeting sectors such as banking and strategic commodities—and indirect support for African projects led by Egyptian firms.
The forum, jointly organized by Afreximbank, Egypt’s Ministry of International Cooperation, and the Group of African Ambassadors, brought together policymakers and business leaders to explore synergies under the African Continental Free Trade Area (AfCFTA).
Egypt’s long-term investment strategy was also highlighted during the event. The country aims to draw $60 billion in foreign direct investment by 2030 and increase its annual exports to $145 billion, leveraging its geographic advantages and manufacturing capabilities.
Benedict Oramah, President of Afreximbank, pointed to Africa's evolving trade footprint, noting that the continent's share in global trade has risen from 10% in the 1990s to 15% by the end of 2023. He added that Africa's GDP has now reached $3 trillion, signaling growing economic momentum.
Further emphasizing the continent’s development potential, Kanayo Awani, Afreximbank's Deputy President, disclosed that the bank has already extended $13 billion in support to African contractors working on infrastructure projects. She underscored the importance of African-led financing solutions to meet the continent’s infrastructure needs.
Awani also highlighted the transformative role of the AfCFTA, describing it as a crucial mechanism for enhancing manufacturing, boosting intra-African trade, and spurring internal economic growth.
Egypt’s Minister of Planning and Economic Development, Rania Al-Mashat, noted that private sector participation now accounts for 63% of total investments in the country—a sign of the sector’s growing influence in Egypt’s economic landscape.
She stressed the value of regional cooperation and strong partnerships among African nations to enhance knowledge exchange and strengthen local enterprise capacity. Al-Mashat also reiterated Egypt’s dedication to major infrastructure ventures, referencing ongoing megaprojects such as the New Administrative Capital and expanded transportation networks.
Representing the diplomatic community, Mohamadou Labarang, Dean of the African Ambassadors Group in Cairo, praised the forum as a critical link between investment capital and real-world implementation. He reaffirmed the potential of the AfCFTA to drive industrialization and economic self-sufficiency across Africa.
Labarang also encouraged Middle Eastern investors—particularly in Egypt—to seize the opportunities created by the trade agreement, calling for deeper regional engagement in Africa’s development story.
