President Abdel Fattah El-Sisi on Tuesday chaired the 43rd session of the New Partnership for Africa’s Development (NEPAD) Heads of State and Government Orientation Committee (HSGOC).
The meeting was attended by heads of state and government and representatives of African countries that are members of the Committee, as well as the Chairperson of the African Union Commission, the President of the African Development Bank, and the President of the African Export-Import Bank.
El-Sisi congratulated President of Angola João Lourenço on his selection as the new chairperson of the NEPAD orientation committee.
Egypt’s Chairmanship
For their part, the African leaders and officials participating in the meeting expressed their appreciation for El-Sisi’s efforts during his chairmanship of the committee since February 2023, and for the successes achieved under Egypt’s chairmanship.
In his speech at the virtual session, El-Sisi said his chairmanship of the NEPAD orientation committee coincided with a significant phase in the agency’s tenure.
This period witnessed the review of the implementation of the first Ten-Year Implementation Plan of “Agenda 2063: The Africa we want”, as well as the adoption of the Agenda’s second Ten-Year Plan, El-Sisi added.
“Today, our meeting takes on increasing importance, given the current critical stage which incurred fundamental shifts at both the region and international levels,” the president said.
He added that this situation requires collective African action to address these emerging developments and changes, and to move toward realizing our peoples’ aspirations for a dignified life in a more stable and prosperous continent, surmounting high rates of poverty and unemployment as well as the decline in food, water and energy security.
Guided by this perspective, El-Sisi said the priorities during Egypt’s NEPAD chairmanship were centered on engaging in earnest with two fundamental parallel tracks:
The first of these tracks involves developing the tools and capabilities with regard to the reorganization of the agency and its Secretariat’s work.
The second focuses on strengthening efforts to mobilize financing for areas of utmost priority to the continent, including the upgrading of the infrastructure, particularly after the adoption of the second Ten-Year Plan for the implementation of Africa Development Agenda 2063.
“These efforts have culminated in our success in translating continental policies and strategies into regional and national programs and initiatives, in addition to mobilizing financing for continental projects,” El-Sisi said.
Achievements, Successes
First: An ambitious resource mobilization initiative has been launched entitled ‘Team Africa’, El-Sisi said. It aims to mobilize $500 billion in financing for approximately 300 vital development projects across our African continent.
Second: A track has been initiated to study the establishment of a ‘Development Fund’ under the umbrella of NEPAD. This is intended to serve as a sustainable mechanism, addressing the funding gap for the agency’s various activities.
Third: The agency has continued to expand its presence across African nations to ensure the alignment of national development plans with Agenda 2063.
Within this framework, the agency has successfully secured $100 million to support public health services in African countries. Furthermore, it has contributed to the preparation and launch of the new Action Plan for the Comprehensive Africa Agriculture Development Programme (CAADP).
Moreover, the agency has launched several initiatives aimed at the empowerment and capacity-building of women and youth in vital sectors, such as innovation and digital economy.
It has also supported industrialization efforts and the integration of value chains within the framework of the full operationalization of the African Continental Free Trade Area (AfCFTA).
Fourth: The agency has adopted a comprehensive approach that recognizes the direct link between peace, security, and development.
Within the framework of Egypt’s chairmanship of the orientation committee and in its capacity as the African Union Champion for the Post-Conflict Reconstruction and Development dossier, Egypt was keen on finalizing the update of the African Union’s Post-Conflict Reconstruction and Development policy.
This involves adopting an advanced approach to peace-building and bolstering cooperation between the agency, the AU Center for Post-Conflict Reconstruction and Development in Cairo, and the Aswan Forum for Sustainable Peace and Development.
Fifth: We have worked to leverage the various African partnerships to serve the developmental priorities and interests of the continent and its peoples.
This included urging major economic powers to invest and provide financing for priority projects across Africa.
Furthermore, we were keen on highlighting the accumulated debt crisis facing our nations, emphasizing the vital need for a reform of the global economic system to make it more equitable and capable of meeting African needs.
Sixth: Addressing climate challenges that adversely affect development efforts in Africa, Egypt has hosted the NEPAD ‘Center of Excellence for Climate Resilience and Adaptation.’
This center supports the capacities of African countries in areas related to resilience and adaptation to climate change, while mitigating the negative repercussions on peace, security, and development.
Seventh: At the national level, Egypt has continued to share its developmental expertise with fellow African states.
This included innovative financing models and public-private partnerships (PPPs) designed to expedite the implementation of developmental projects and plans within our countries.
Egypt has also launched a financing mechanism to fund the study and implementation of projects in Nile Basin countries, particularly in the sectors of water, food, and energy.
We have allocated $100 million from our national resources to this mechanism, serving as a seed contribution to mobilize further financing from international and African partners, financial institutions, and the private sector.
“The achievements of recent years are a demonstrable reflection of our shared resolve and commitment to fulfilling the aspirations of our peoples for development and prosperity,” El-Sisi said.
He added that Egypt underscores the crucial necessity to leverage the available African tools and mechanisms and foster concerted efforts of African financial institutions to support economic integration.
African Business Summit
To this end, Egypt intends to organize an African Business Summit during the current year, El-Sisi said.
The summit will address the needs of this current stage and contributing to strengthening the interconnectedness and integration between governments, business sectors, and African financial institutions.