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Arab Finance: Minister of Investment and Foreign Trade Mohamed Farid held a meeting with Haytham El Maayergi, Executive Vice President of African Export-Import Bank (Afreximbank), to discuss prospects for joint cooperation, according to a statement.
The meeting is part of the government’s efforts to strengthen economic and trade relations between Egypt and regional and international financing institutions.
Both sides addressed ways to enhance investment and trade integration between Egypt and African countries through innovative financing tools aimed at supporting exporters and investors.
The talks also touched upon leveraging the Pan-African Payment and Settlement System (PAPSS) to facilitate transactions and reduce reliance on foreign currencies, in addition to exploring cooperation opportunities in the mining, tourism, and construction sectors.
Discussions also focused on strengthening Egypt’s position as a continental re-export hub, supporting trade with Africa through the Export Trading Companies (ETC) program.
On his part, Farid affirmed that the ministry is working to directly secure investment opportunities in Egypt with African markets.
The minister noted that the government continues to enhance investment services and facilitate cross-border trade procedures through greater digitalization and simplified processes, supporting the business environment and expansion plans across the African continent.
Farid emphasized that the partnership with Afreximbank plays a vital role in boosting integration between Egypt and African countries, while expanding financing and settlement mechanisms in local currencies.
Earlier this month, Hassan Abdalla, Governor of the Central Bank of Egypt (CBE), and George Elombi, President and Chairman of African Afreximbank, held a joint press briefing to address preparations for the 33rd Afreximbank Annual Meetings (AAM2026).
The AAM2026 will be held in Alamein City under the patronage of President Abdel Fattah El-Sisi from June 21st to June 24th. It is expected to attract more than 100 local and international media representatives, both in person and virtually.
