Sisi: Private Sector Is Key Driver for African Development at NEPAD Summit

African leaders meeting at the New Partnership for Africa’s Development (NEPAD) summit in New El Alamein committed on October 3, 2026, to accelerating the continent’s second ten-year implementation plan for Agenda 2063 through private sector investment and domestic will. Egyptian President Abdel Fattah El-Sisi told delegates that the continent’s real development must be forged by African leadership, science, and labor rather than external actors. The gathering brought together the founding nations of Algeria, Egypt, Nigeria, Senegal, and South Africa, alongside the president of Burundi, the current African Union chair, and the executive director of the agency.

Private Sector as the Primary Engine for African Growth

President El-Sisi stated that the private sector is emerging as a primary engine for development, economic growth, and job creation across the continent. Empowering businesses requires governments to establish a favorable investment climate through infrastructure development, regulatory efficiency, streamlined business practices, and the rule of law. El-Sisi said public-private partnerships must be strengthened to finance development projects that yield tangible economic and social returns.

Twenty-Five Years of NEPAD Infrastructure and Regional Integration

Marking 25 years since the launch of the initiative in 2001, NEPAD has evolved into the African Union’s operational arm for translating Agenda 2063 goals into concrete regional projects. El-Sisi noted that the agency has advanced continental infrastructure, agricultural transformation, human capital development, industrialization, and regional integration over the past decades. During Egypt’s leadership of the steering committee, the country prioritized bridging funding gaps, establishing an African Union development fund under the Team Africa initiative, and launching a biennial business forum in New El Alamein to support Agenda 2063 projects.

Angola Takes Up Leadership for the Next Chapter of Development

Angolan President João Manuel Lourenço emphasized during the summit that the upcoming chapter of the African Union Development Agency (AUDA-NEPAD) must be written by African hands. Following the conclusion of the founding nations summit, the presidency of the steering committee transitions to Angola, with President Lourenço tasked with building on achievements in regional integration and project execution. The summit concluded with the announcement of the El Alamein Declaration, which establishes the biennial Africa El Alamein Business Forum as a permanent platform uniting policymakers, business owners, and financial institutions.