Photo courtesy of Egypt's Ministry of Industry
The EABA has operated in Egypt since 2019 and has more than 17 representatives across Africa. It provides services supporting economic leadership, digital transformation, and regional integration to 390 Egyptian firms and 22 specialized companies.
Minister Hashem met with EABA Chairman Yousry El-Sharkawy to discuss ways to improve and diversify partnerships between Egypt and other African countries.
The discussions focused on supporting industrial and economic activities that benefit both sides, making better use of African resources to enhance Egypt's competitiveness, attract new investments, increase value-added production, and promote African products in global markets, according to the statement.
The meeting comes as Egypt prepares to host the 33rd annual meetings of the African Export-Import Bank (Afreximbank) in New Alamein at the end of June. The meetings will focus on boosting intra-African trade, industrialization, investment, and reforming the global financial system.
African leaders have called for faster implementation of the African Continental Free Trade Area (AfCFTA), which aims to create a single African market, and urged measures to facilitate trade and industrial integration across the continent.
During the 2026 Annual Meetings of the African Development Bank (AfDB) Group, leaders also called for deeper domestic financial markets to help address financing gaps and expand the use of guarantees, risk-sharing mechanisms, and blended finance tools.
The AfDB estimates that Africa needs nearly $150 billion annually to meet its infrastructure requirements. However, financing shortages continue to hamper efforts to improve competitiveness, create jobs, and expand trade, which is projected to reach $230 billion by 2027.
African commercial banks have also faced financing pressures caused by global disruptions, which could slow North Africa's economic growth to 4.0 percent in 2026 from 4.4 percent in 2025.
In May, Afreximbank launched a $10 billion financing programme to help African countries, including Egypt, secure essential imports amid escalating geopolitical tensions in the Middle East. The tensions have contributed to higher energy costs and disruptions to global trade routes, placing additional pressure on regional economies.
Meanwhile, the AfDB expects Egypt's growth to remain resilient at around 4.3 percent in fiscal year (FY) 2026/2027, although continued geopolitical tensions could reduce growth by between 1.5 and 2.5 percentage points.
Egypt has been promoting industrial production and exports as part of its National Industrial Strategy, while pursuing policies aimed at increasing private-sector investment and strengthening its role as a regional export hub.
The government projects economic growth of 5.4 percent in FY2026/2027, with manufacturing expected to be the largest contributor, accounting for 29 percent of growth, followed by trade at 11.3 percent. Total investments are projected to reach EGP 3.7 trillion.
Efforts to attract industrial investment and promote private-sector-led growth also align with Egypt's economic reform programme supported by the International Monetary Fund (IMF).
IMF staff are currently in Cairo to conduct the seventh review of Egypt's Extended Fund Facility (EFF) programme and the second review under the Resilience and Sustainability Facility (RSF), which could unlock $1.6 billion in additional financing.
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