Prime Minister Mostafa Madbouly meets AngloGold Ashanti’s Chief Sustainability and Corporate Affairs Officer, Stewart Bailey. Photo: Egyptian Cabinet
He emphasised the state’s readiness to overcome existing challenges and provide the necessary incentives that could contribute to increasing investments from South Africa to Egypt.
According to the Egyptian cabinet, Madbouly’s remarks came during a meeting with 40 representatives of major companies and research and think-tank institutions in South Africa, organised by the Egyptian Embassy in Cape Town.
The meeting, attended by Foreign Minister Badr Abdelatty, took place ahead of the Egyptian PM’s participation at the 2025 G20 summit in Johannesburg.
During the meeting, Madbouly delivered a comprehensive presentation on the business climate and investment opportunities in Egypt, noting that the state places great emphasis on empowering the private sector to be the main driver of economic growth and a key partner in sustainable development efforts.
He looked forward to establishing an Egyptian-South African business council, stressing the importance of stronger connections and cooperation between Egyptian companies and their South African counterparts within the framework of bilateral cooperation and integration.
During the meeting, Abdelatty highlighted the historical relations between the two countries and Egypt’s diplomatic efforts in securing the release of African leader Nelson Mandela.
The Egyptian FM reviewed cooperation efforts and promising opportunities in the Egyptian market in light of the government’s reform measures and support for the private sector.
He addressed several proposals that could help advance cooperation between Egypt and South Africa, as well as increase investment rates and trade exchange.
Similarly, Abdelatty further emphasised Egypt’s keenness to support cooperation, increase shared investments, and strengthen integration between the two countries, noting that he would lead a delegation of Egyptian business leaders scheduled to visit South Africa next year.
For his part, the representative of South Africa’s Thelo company pointed out that the company relies on Egyptian personnel and has partnered with several Egyptian companies to develop infrastructure projects in multiple African countries.
Furthermore, the representatives of the AngloGold Ashanti company, the investor in Egypt’s Sukari Gold Mine (SGM), praised the Egyptian government’s efforts to support investments in the mining sector.
They also commended the ongoing cooperation between the company and Egypt's Ministry of Petroleum and Mineral Resources, noting that Egypt holds promising opportunities in the mining sector.
Business leaders and CEOs who attended the meeting discussed the ongoing cooperation between their companies and the Egyptian government, reviewing their investments in the Egyptian market and the plans to expand and develop them in the future.
They also highlighted promising opportunities for new companies entering the Egyptian market. Moreover, the business leaders explored ways to increase trade exchange by focusing on areas such as exporting fertilizers to the South African market and importing livestock from South Africa to meet Egypt’s meat demand.
Several business leaders from several sectors, including mining, telecommunications, railway connectivity, and automotive, participated in the meeting.
On the other hand, according to the Egyptian cabinet, Madbouly held a separate meeting with AngloGold Ashanti’s Chief Sustainability and Corporate Affairs Officer, Stewart Bailey, and SGM’s Managing Director and Vice Chair, Hoda Mansour.
The meeting addressed ways to support AngloGold Ashanti’s investments in Egypt and steps to overcome any obstacles facing the company in the mining sector.
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