Egypt has announced an ambitious plan to mobilize $500 billion to finance nearly 300 development projects across the African continent under its “Team Africa” initiative, according to Africa Business Insider. The initiative aims to address critical infrastructure and investment gaps while supporting sustainable development across key sectors.
Foreign Minister Badr Abdelatty, speaking on behalf of President Abdel Fattah Al‑Sisi, said the plan will advance the African Union Development Agency (AUDA‑NEPAD)’s ten‑year implementation framework under the African Union’s Agenda 2063, targeting priority areas including transport infrastructure, energy, agriculture, digital economy and social development, Daily News Egypt reported.
The funding is expected to come from a combination of government contributions, development partners, financial institutions and private capital, addressing Africa’s persistent challenges such as poverty, unemployment, energy deficits and food insecurity. The minister emphasised that the initiative will also strengthen institutional capacity, including the establishment of a development fund under AUDA‑NEPAD to ensure sustainable long-term financing.
Egypt has pledged $100 million in seed funding for Nile Basin projects focused on water, energy and food security and announced plans to host an African Business Summit later in 2026 to accelerate investment and partnership opportunities. The government describes the programme as a major step in fostering continental integration and sustainable economic growth.
