President al-Sisi Urges African Stability for Economic Growth
President Abdel Fattah al-Sisi called on African nations to prioritize peaceful conflict resolution and national sovereignty to attract investment during the Alamein Africa Forum.
Egyptian President Abdel Fattah al-Sisi urged African nations to prioritize peaceful resolutions to conflicts and respect national sovereignty during his opening speech at the Alamein Africa Forum in New Alamein on Saturday. He argued that stability is a "fundamental pillar" for economic development and is essential for attracting investors, manufacturers, and farmers to operate in a safe environment.
Al-Sisi highlighted a significant gap in continental trade, noting that while the private sector drives over 70% of Africa's GDP, intra-African trade remains low at approximately 18%. He pointed out that 85% of private sector transactions currently occur with non-African companies.
Addressing global instability, the president noted that Africa frequently suffers the negative repercussions of conflicts in which it is not a party, specifically citing the energy crisis and its subsequent impact on fuel and fertilizer prices. The three-day forum, which brings together 1,500 officials and business leaders, is organized by Egypt in cooperation with the African Export-Import Bank and the African Union Development Agency.
