Central Bank of Egypt (CBE) Governor H.E. Hassan Abdalla participated in the Alamein Africa Forum, hosted by Egypt in New Alamein City, highlighting the need for stronger financial cooperation, deeper intra-African trade and greater investment integration to unlock the continent’s economic potential.
The Forum, inaugurated by H.E. President Abdel Fattah El-Sisi, brought together heads of state and government, senior officials, business leaders, financial institutions, investors and representatives of the public and private sectors from across Africa.
The event comes within the framework of Egypt’s vision to strengthen economic and financial integration with African countries across multiple sectors.
Hassan Abdalla Highlights Africa’s Growth Potential
Governor Hassan Abdalla delivered a keynote address during a high-level session titled “Africa’s New Growth Compact in a Turbulent World.”
The session featured H.E. Deogratius John Ndejembi, Vice President of the United Republic of Tanzania, and Corneille Karekezi, Chief Executive Officer and Group Managing Director of African Reinsurance Corporation (Africa Re).
Discussions focused on the major challenges facing African economies and ways to promote sustainable growth, strengthen financial cooperation and support investment integration across the continent.
At the beginning of the session, Abdalla stressed that Africa needs to build greater confidence in its economies, strengthen joint financial cooperation and create sufficient employment opportunities for its rapidly growing young population.
He noted that around 12 million young people enter Africa’s labor market every year, while only around 3 million formal jobs are created, highlighting the scale of the employment challenge facing the continent.
The Governor emphasized that Africa’s youth represent both its greatest opportunity and a potential challenge, depending on the continent’s ability to provide young people with the education and skills required to become productive contributors to economic growth.
Stable Economic Policies Key to Attracting Investment
Abdalla called on African countries to adopt stable and predictable economic policies, establish clear economic identities and develop measurable plans capable of strengthening investor confidence.
He emphasized that confidence in the economic environment is essential for attracting investment, supporting businesses and achieving sustainable long-term growth.
The CBE Governor also highlighted the importance of strengthening Africa’s financial architecture by developing deeper financial markets, expanding access to finance and reinforcing banking systems.
He further called for improved mechanisms to assess African investments and creditworthiness, including greater attention to credit ratings and the establishment of an African rating agency.
According to Abdalla, such an institution could strengthen African economies’ ability to access financing and attract investment on more favorable terms.
Greater Use of African Currencies to Boost Intra-African Trade
The Governor also stressed the importance of increasing trade and financing between African countries, noting that significant amounts of African capital currently leave the continent for developed markets before returning at a higher cost.
He called for greater circulation of capital within Africa and more effective use of the continent’s own financial resources.
In this context, Abdalla highlighted the potential benefits of expanding the use of local African currencies in regional trade rather than relying entirely on external currencies.
He noted that beginning with a portion of intra-African trade could represent a practical first step toward strengthening trade and investment flows while deepening financial connectivity among African economies.
Egypt Highlights Progress in Economic and Financial Reforms
Abdalla also highlighted the positive outcomes of Egypt’s economic reforms, pointing to improvements across a number of economic and financial indicators.
Among the developments he cited were the increase in Egypt’s net international reserves to unprecedented levels and improvements in the capital adequacy ratios of banks operating in Egypt.
He noted that these indicators reflect the resilience of Egypt’s banking sector and its ability to support business activity, finance economic growth and contribute to sustainable development.
Egypt Expands Banking Cooperation Across Africa
Highlighting Egypt’s efforts to translate its vision into practical initiatives, Abdalla said Egypt is actively strengthening financial and banking cooperation with African countries.
He noted that at least 15 Memoranda of Understanding (MoUs) have been signed with African central banks in several areas, including training and governance.
The Governor also pointed to the expanding regional presence of banks operating in Egypt, including through the opening of credit lines and provision of financial facilities designed to strengthen money markets, increase liquidity and support investment across the continent.
Removing Trade Barriers to Strengthen African Integration
Abdalla emphasized that deeper African integration also requires reducing barriers between countries and facilitating the movement of goods and people across borders.
In particular, he highlighted the importance of reducing the time required to process goods and complete customs procedures, describing efficient border processes as critical to boosting intra-African trade and investment.
The Governor also called for measurable and actionable commitments rather than continued discussions, outlining specific targets that could help accelerate financial integration.
These include directing 10% of African banking liquidity toward intra-continental investment and allocating 5% of international reserves to investment within Africa.
Financial Integration Key to Unlocking Africa’s Potential
Concluding his remarks, Hassan Abdalla emphasized that deeper financial and banking cooperation, stronger financial markets, increased intra-African trade and easier movement of capital are essential to unlocking Africa’s significant economic potential.
He also stressed the importance of ensuring that the continent’s growing population, particularly its youth, becomes a sustainable source of economic growth and investment.
Alamein Africa Forum Brings African Leaders and Investors Together
The Alamein Africa Forum is being held pursuant to a decision by the African Union Summit in February 2026, which mandated that the Forum be convened every two years in New Alamein City.
The Forum aims to move beyond setting Africa’s development priorities toward mobilizing the resources, investments and partnerships needed to translate those priorities into tangible projects and practical outcomes.
It also provides a platform for direct engagement between governments, business communities, investors and financial institutions.
The Alamein Africa Forum is being held alongside a series of high-level African events hosted by Egypt in New Alamein City, including the Summit of the Founding Member States of the African Union Development Agency (AUDA-NEPAD) on Saturday, October 3, and the Eighth Mid-Year Coordination Meeting of the African Union on Sunday, October 4, 2026.
