[REVISION HISTORY]

Egypt's diplomatic and financial engagement in Africa

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2026-09-20 12:05 UTC → 2026-09-20 20:19 UTC · added ~~removed~~

Egypt is actively expanding its diplomatic and economic influence within the African continent through infrastructure promotion and financial leadership. In early September 2026, Foreign Minister Badr Abdelatty hosted African ambassadors at the New Administrative Capital to showcase modern urban development and the Diplomatic District, which offers headquarters options for foreign missions. This effort coincided with preparations for the Alamein Africa Business Forum. By mid-September, Egypt’s influence extended into regional financial governance. During the 48th annual meetings of the Association of African Central Banks ~~Association meetings~~ (AACB) in Nairobi, Kenya, the Central Bank of Egypt ~~was appointed Vice President~~ (CBE) joined the AACB Bureau as Vice-Chair of the North Africa ~~region, a~~ region. This role ~~serving~~ serves as a precursor to ~~its 2028 presidency.~~ Egypt assuming the regional chairmanship in 2028. During these proceedings, the council also approved the second edition of the African Financial Stability Report, a project stemming from a 2024 proposal by CBE Governor Hassan Abdalla to improve continental risk monitoring. Additionally, discussions involving the Pan-African Payment and Settlement System (PAPSS) highlighted Egypt’s ongoing use of the system to facilitate regional transactions without the need for US dollar intermediaries. Following Egypt's formal integration into PAPSS in November 2024, the CBE is currently evaluating further technical services, such as the PAPSS Card and the PAPSS Marketplace, to assist Egyptian banks with cross-border transactions.

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