Egypt and South Africa launch new Business Council

The Egypt–South Africa Business Council was officially inaugurated during an investment event focused on the African automotive sector. The launch took place in collaboration with the Ministry of Investment and Foreign Trade, South Africa, and the African Export-Import Bank (Afreximbank).

Egyptian Foreign Minister Badr Abdelatty emphasized that the council aims to translate growing political momentum between the two nations into broader economic and investment cooperation. Key sectors identified for collaboration include mining, industry, renewable energy, agriculture, pharmaceuticals, and logistics.

The initiative seeks to leverage the membership of both countries in BRICS and South Africa’s involvement with Afreximbank to enhance financing and private sector projects. Additionally, the council will focus on connecting northern and southern Africa through improved transport, logistics, and shipping routes, utilizing the Suez Canal and existing ports to support intra-African trade.