African leaders, financiers and business chiefs have called for more of the continent’s own capital to be channelled into industry, regional trade and jobs, at the inaugural Alamein Africa Forum in Egypt.
The two-day forum, which was launched by Egyptian President Abdel Fattah El-Sisi, was convened by Egypt with the African Union (AU), the AU Development Agency–NEPAD (AUDA-NEPAD) and the African Export–Import Bank (Afreximbank).
According to the organisers’ statement, it drew heads of state, investors and financial institutions, with Nigeria’s Aliko Dangote among seven named private-sector leaders.
Dangote: growth alone is not enough.
Dangote, president and chief executive of Dangote Industries Limited, said headline growth tells Africa too little. “We should ask: what are we growing, how many productive jobs does it generate, and how much economic resilience does it leave behind?” he said.
He also said fragmented regulations, standards and border procedures make it hard for businesses to operate at scale. Delegates argued that processing resources locally and making higher-value goods would reduce Africa’s dependence on imported fuel, medicines and technology.
Push for African capital
Afreximbank’s President and Chairman, George Elombi, called for assessments of African financial institutions to reflect their performance, ownership models and development role. He also highlighted the bank’s support for African economies during periods of disruption.
AUDA-NEPAD Chief Executive Nardos Bekele-Thomas said, “We need more Africans investing in Africa.” She urged firms to expand beyond national markets and build regional value chains.
Abdullah Almusaibeeh, president of the Arab Bank for Economic Development in Africa (BADEA), said coordination among lenders can bring more financing to a project than any one institution could provide. He cited potential partnerships with the Africa Finance Corporation and the Trade and Development Bank.
Regional links and practical reforms
African Union Commission Chairperson Mahmoud Ali Youssouf said domestic transformation creates jobs, value addition and wealth. He called for practical measures such as payments in local currencies and financing guarantees to help small and medium-sized enterprises (SMEs).
AU Chairperson and Burundian President Évariste Ndayishimiye urged partners to see Africa as a continent of production, innovation and investment, not only consumption.
Angola’s Minister of External Relations, Téte António, pointed to the Lobito Corridor, which could connect Angola, Zambia and the Democratic Republic of Congo. Massad Boulos, senior adviser to the US President on Arab and African affairs, spoke on commercial partnerships and diplomacy. AfCFTA Secretary-General Wamkele Mene said the forum’s success should be judged by the transactions and partnerships it produces.
Panels covered agriculture and food systems, energy, infrastructure and logistics, trade, digital innovation and health markets. The programme also included a Startup Arena and the African Youth in Artificial Intelligence Competition.
What this means
For Nigerian manufacturers and exporters, the emphasis on regional value chains, local-currency payments and guarantees points to where development finance may be heading, but no funding was announced.
As for investors and lenders, no deal values or pledges were disclosed, so the forum is best read as a signal of priorities rather than a pipeline.
Similarly, for SMEs and policymakers: The calls to harmonise standards and border procedures echo long-running complaints about the cost of cross-border trade within Africa
Sunday Michael Ogwu is a Nigerian journalist and editor of Pinnacle Daily. He is known for his work in business and economic reporting. He has held editorial roles in prominent Nigerian media outlets, where he has focused on economic policy, financial markets, and developmental issues affecting Nigeria and Africa more broadly.