Abdel Fattah el-Sisi: African private sector drives 70% of continent's GDP

During the Alamein-Africa Business Forum, Egyptian President Abdel Fattah el-Sisi stated that the African private sector is the primary driver of the continent's economies, contributing more than 70% of Africa's GDP.

El-Sisi highlighted several challenges to continental growth, noting that approximately 85% of African private sector transactions occur with companies outside the continent. He also pointed out that intra-African trade accounts for only about 18% of the continent's total trade. He attributed these figures to a lack of information among small and medium-sized enterprises regarding neighboring market opportunities, which often leads them to seek distant international markets instead.

The forum aims to serve as an institutional bridge to close information gaps and facilitate direct communication between investors and private sector representatives. This is intended to support the African Continental Free Trade Area and the African Union's Agenda 2063. Additionally, el-Sisi emphasized that economic development requires stability and noted that Africa seeks a global order that does not disproportionately burden the continent with the consequences of international crises, such as energy and supply chain disruptions.