On Africa Day May 25, President Abdel-Fattah El-Sisi delivered a powerful message of unity, cooperation, and economic integration, underscoring Egypt’s enduring commitment to the African continent. Speaking on the 62nd anniversary of the founding of the Organization of African Unity (OAU)—now the African Union (AU)—El-Sisi reflected on Africa’s shared legacy and future, calling for deeper bonds and bolder development strides among nations.
“Africa Day is not only a celebration of unity but a declaration of shared ambition,” President El-Sisi stated. “Egypt will continue to champion peace, progress, and partnerships across the continent.”
In a compelling reflection of Cairo’s continental engagement, Egypt’s trade volume with African Union nations soared to $9.8 billion in 2024, marking a 6.5% increase from the previous year, according to data from CAPMAS, Egypt’s official statistics agency. Egyptian exports hit $7.7 billion, up 4.7%, while imports jumped by 14.5% to reach $2.1 billion.
Notably, Libya topped the list of importers of Egyptian goods, accounting for $2 billion in trade, followed by Morocco, Algeria, Sudan, and Tunisia. On the import side, the Democratic Republic of Congo emerged as Egypt’s leading African supplier, sending goods worth $661.9 million, followed by Sudan, Kenya, Nigeria, and South Africa.
Egypt’s top exports to Africa included:
- Cement, gypsum, and salt: $694.4 million
- Plastics: $590.5 million
- Mills products: $397 million
- Electrical equipment: $357.8 million
Conversely, Egypt’s imports from Africa centered on:
- Copper and copper products: $741.5 million
- Coffee and tea: $286.6 million
- Fuel and mineral oils: $203.7 million
These figures underscore the mutual interdependence and industrial complementarities across African economies, with Egypt playing a crucial logistical and commercial role at the continent’s northeastern gateway.
While trade is on the rise, investment flows and remittances showed mixed trends. Egyptian investments in Africa dipped slightly to $499.1 million, while African investments in Egypt declined more steeply to $831.2 million, down from $1.6 billion the year before. Experts from the African Development Bank caution that renewed investor confidence and joint ventures are key to reversing this decline.
Dr. Rania Mostafa, a regional economics expert, said: “Egypt’s role in Africa must now shift from trade to transformative investment—especially in green energy, digital infrastructure, and intra-African logistics.”
Remittances from Egyptian expats in AU countries totaled $115.8 million—slightly down from last year—while African workers in Egypt sent back $23.6 million, a dip from $28.8 million in FY 2022/23. Nigeria, Kenya, and Morocco led in sending remittances to Egypt.
Africa Day, celebrated each year on May 25, commemorates the establishment of the OAU in 1963, of which Egypt was a founding member. With 55 nations now part of the African Union, the day stands as a rallying cry for political unity, economic integration, and cultural solidarity across the continent.
This year’s celebrations are especially poignant amid global economic headwinds and regional conflicts. President El-Sisi’s remarks reiterate Egypt’s belief in Africa’s potential to overcome adversity through cooperation and innovation.
“Our strength lies in our unity. We must continue building a future anchored in peace, driven by growth, and sustained by solidarity,” the President declared.
As Egypt expands its diplomatic and economic footprint across the continent, Africa Day 2024 serves as a milestone—and a motivator. Whether through trade corridors, cultural exchange, or political coordination, Egypt’s message is clear: Africa’s future is Egypt’s future.
In the words of AU Commission Chairperson Moussa Faki Mahamat, shared in his Africa Day address: “Africa’s renaissance is already underway. With regional champions like Egypt, we are closer than ever to realizing the dreams of our founders.”
