CAIRO - 28 May 2026: Egypt is among the key beneficiaries of the African Continental Free Trade Area (AfCFTA), alongside other major African economies such as South Africa, Nigeria, and Morocco, which are already seeing faster gains from the agreement due to their stronger industrial and export bases, said Wamkele Mene, Secretary-General of the bloc.
Speaking on the sidelines of the closing session of the “Biashara Africa 2026” forum in Lomé, Togo, Mene said the agreement is designed to ensure inclusive benefits across all African countries, regardless of economic size or level of diversification.
He noted that Africa still requires substantial investment in industrial capacity, infrastructure, and private-sector development. According to him, the AfCFTA adjustment fund has already begun financing projects aimed at strengthening industrial ecosystems and improving competitiveness across several African economies.
Mene also highlighted partnerships with the African Development Bank and Africa50 to support strategic infrastructure projects, including Mozambique’s first data center, as well as special economic zones in Sierra Leone and The Gambia.
He pointed to global economic headwinds, including the European Union’s Carbon Border Adjustment Mechanism (CBAM) and uncertainty surrounding the African Growth and Opportunity Act (AGOA), as reinforcing the need to deepen intra-African trade.
He said Africa’s combined consumer and business spending is estimated at around $3.4 trillion.
The AfCFTA chief added that recent global crises, from the COVID-19 pandemic to the Russia–Ukraine war and conflicts in the Middle East, have highlighted the importance of accelerating the creation of a unified African market while reducing reliance on external trade partners, without undermining international cooperation.
On energy and climate, he said Africa is increasingly expanding investment in renewable energy, including solar and hydropower, under the African Union’s green industrialization agenda.
He also noted that African financial institutions have committed to mobilizing $100 billion to support green trade, green manufacturing, and renewable energy projects, following agreements reached at the Africa Climate Summit in Addis Ababa.
Despite contributing less than 4% of global emissions, Africa is disproportionately affected by climate change impacts, including droughts and flooding across the Sahel and other regions, he said, stressing that private-sector partnerships are now central to advancing the continent’s green transition and strengthening energy security.
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