The Egyptian city of Sharm El-Sheikh hosted the third edition of the annual Africa Forum, a landmark event hosted under the high patronage of H.E. Abdel Fattah Al-Sisi, President of the Arab Republic of Egypt, ahead of Egypt’s upcoming Presidency of the African Union in 2019.

With the participation of 6 African Heads of States and more than 15 Minsters from various African States; the President of the African Union Commission, the Secretary Generals of the COMESA and Sahel and Sahara organizations; Presidents of the African and Asian Development Banks; development partners including the World Bank Group, the European Bank for Reconstruction and Development EBRD; and more than 3000 African Entrepreneurs, the Forum created an opportunity to confirm Egypt’s keenness on supporting the interests of the African continent and enhancing its development process. It was also a unique opportunity to exchange views and ideas on the means of pushing the comprehensive development of the continent foreword, in order to create the best means to improve our present situation and build our future.

In his inaugural address, President Sisi said that the aim is to achieve the common interests of Egypt and African countries, as well as increasing cooperation and transfer of Egyptian expertise to the continent countries in areas closely related to development. Egypt has been keen to increase its investment in Africa, which increased by 1.2 billion dollars in 2018 to 10.2 billion dollars, President said.
At the closing ceremony President Sisi announced the creation of an investment fund in information technology infrastructure in Africa, the launch of a risk insurance fund to encourage Egyptian entrepreneurs to invest in Africa, and the establishment of the first regional centre in Egypt to support start-ups and train youth through entrepreneurship. Around 10,000 Egyptian and African youth will be trained in digital technology in the next three years.

The Forum was also a favorable platform to emphasize the importance of strengthening African multilateral cooperation frameworks, contributing to economic development, providing more employment opportunities for the peoples of the continent, exploring ways of developing infrastructure and expanding the base of economic activity; all of which come within the priorities of Egypt’s upcoming presidency of the African Union in 2019.

The discussions focused on the strategies of attracting investments to the continent to accelerate the growth of the start-ups, provide a good business environment for entrepreneurs, and strengthen the cross-border economic cooperation. Women empowerment has also been addressed extensively, particularly with regard to policies to enhance opportunities for their empowerment and protection within their surrounding environment, as well as highlighting the best practices for leadership qualification and ensuring the best ways to boost their role to participate in policy-making at all levels.
Egypt’s Foreign Minister Sameh Shoukry stressed that during Egypt’s upcoming presidency of the African Union, the priority will be for cooperation between countries to boost development in the continent, and that infrastructure projects will be the focus in the coming phase.

The D-8 Organization of Economic cooperation was present at the meeting through the participation of its Director of Economy, Implementation, and External Relations Ms. Marwa Lasheen, who held sideline meetings with the Chair of COMESA Business Council, representatives of the African Development Bank, the World Bank group, the EBRD, and officials of the Ministry of Investment and International Cooperation, as well as representatives of the private sector from various African countries. During the meetings, she briefed them about the activities of the D-8 Organization, and discussed common areas of interest where synergies can be made for future cooperation.