Madbouly urges enhanced continental integration, outlines priorities of NEPAD presidency

Cairo – July 22, 2024: On behalf of President Abdel Fattah El-Sisi, Prime Minister Mostafa Madbouly delivered a keynote address at the African Union's mid-year coordination meeting in Accra, Ghana, highlighting the economic challenges facing Egypt and Africa amidst global tensions and challenges.

The prime minister stressed the importance of enhancing continental integration and economic resilience in the face of external shocks, emphasizing the significant impact of external factors on African economies, including geopolitical tensions and financial disparities exacerbated by global systems.

Madbouly also outlined Egypt’s strategic priorities as president of the African Union Development Agency (NEPAD) such as focusing on mobilizing financial resources for priority areas such as infrastructure development projects through the African Infrastructure Development Program (PIDA), implementation of the Common African Agricultural Policy, and green energy initiatives.

Priorities also included accelerating the activation of the Continental Free Trade Agreement, as well as enhancing the benefits provided to member states.

The Prime Minister called for stronger cooperation among African nations and international partners to address challenges effectively, noting peace, security, and development as pivotal for sustainable growth and stability across the continent, particularly in post-conflict reconstruction.

Madbouly reiterated Egypt's commitment to advancing the African Union's 2063 Agenda, which aims to accelerate development goals.

He emphasized seizing the various opportunities and utilizing resources of African nations, such as its vast natural and human resources, to better improve the continent’s ability to withstand and adapt to external shocks and climate change.

He also stressed the importance of leveraging Africa's recent accession to the G20 to amplify the continent's global economic influence and secure innovative financing mechanisms to address Africa's economic needs.

The Prime Minister also affirmed Egypt's readiness to work on deepening economic integration among African nations, and to advance development rates in a way that contributes to raising the standard of living of its people.