Egypt’s GAFI hosts inaugural Egypt-Zambia Business Forum
Egypt’s General Authority for Investment and Free Zones (GAFI) hosted the inaugural Egypt-Zambia Business Forum under the theme Deepening Trade and Investment Cooperation for Sustainable Growth, the Egyptian Cabinet reported on Tuesday.
GAFI CEO Hossam Heiba stated that the forum provides a platform for investors from both nations to explore business opportunities and forge investment partnerships. He emphasised Egypt’s commitment to presenting investment prospects to Zambian businesses while offering training and regulatory support to enhance Zambia’s investment climate.
Heiba highlighted Egypt’s strategy to encourage Egyptian companies to invest in Zambia and Africa by developing regional value chains that link raw materials to final markets through manufacturing hubs.
He also stressed the importance of leveraging the African Continental Free Trade Area (AfCFTA) to foster sustainable industrial cooperation and drive Egyptian investments in Zambia, particularly in infrastructure and energy.
Zambia Development Agency (ZDA) Director General, Albert Halwampa, reaffirmed Zambia’s openness to African partnerships, particularly with Egypt. He noted that Zambia prioritises intra-African trade and investment as part of the African Union’s Agenda 2063.
Halwampa urged Zambian businesses to partner with Egyptian companies to invest in both Zambia and Egypt, citing increased interest from Egyptian firms in infrastructure development across Africa.
The forum facilitated bilateral business meetings between major investment entities and startups from both countries. Key participants included Arab Contractors, Elsewedy Electric, Hassan Allam Holding, Orascom Construction, Lusaka Communication Solutions, Zambia Electricity Supply Corporation, the Zambian Chamber of Commerce, and the African Export-Import Bank.
Discussions focused on forging investment partnerships in energy, telecommunications, infrastructure, and other strategic sectors aligned with both nations’ development agendas.
Attribution: Amwal Al Ghad English
Subediting: M. S. Salama