African leaders to meet in Egypt for business summit

African leaders will meet in Egypt on Friday for a business summit that Cairo hopes will bolster its clout across the continent.

The inaugural three-day Alamein Africa Forum is part of Egypt’s push to reassert itself in a continent where China and Gulf states, particularly the United Arab Emirates, have emerged as major players.

After long focusing on the Middle East and the Mediterranean, Egypt is keen to rebuild its influence within Africa.

It has also sought to rally backing in its long-running dispute with Ethiopia over the Grand Ethiopian Renaissance Dam (GERD), which it sees as a threat to its vital share of Nile waters.

Friday’s forum is expected to bring together more than 20 heads of state and government representatives in the Mediterranean city of Alamein, alongside business leaders, bankers and development institutions.

“This is an African platform,” Egypt’s deputy foreign minister for African affairs Mohamed Abu Bakr Saleh told AFP.

“A country in East Africa should be able to sign an agreement with a country in West, North or southern Africa through this platform.”

Saleh said the forum would become a biennial event under an African Union mandate, focusing on infrastructure, trade, agriculture, healthcare, mining, technology and renewable energy.

Officials estimate Egyptian investments across Africa at around $14 billion. Among Egypt’s flagship ventures is Tanzania’s $3 billion Julius Nyerere Hydropower Project, built by a consortium led by Egyptian companies.