Egypt strengthens alliance with Afreximbank ahead of 2026 annual meetings

Egypt has reaffirmed its strategic alliance with Afreximbank ahead of the Bank’s 33rd Annual Meetings scheduled to be held in New Alamein City next June, positioning the gathering as a major platform to deepen intra-African trade, industrialisation and economic cooperation across the continent.

“Speaking during a media briefing alongside George Elombi, president and chairman of the board of directors of Afreximbank, Hassan Abdalla, governor of the Central Bank of Egypt, said the country’s relationship with the continental lender remains “strategic and foundational,” reflecting a shared vision to advance African trade and economic integration.”

The governor noted that Egypt is both a founding shareholder and host of Afreximbank’s headquarters, while the CBE remains the bank’s largest shareholder. According to him, Afreximbank’s activities in Egypt since inception have supported critical sectors of the economy, particularly the financial services, oil and gas industries.

Egypt also reiterated support for Afreximbank’s key continental initiatives, including the Pan-African Payment and Settlement System (PAPSS), which is designed to facilitate instant cross-border payments in local currencies among African countries. The country is also backing the MANSA platform initiative aimed at improving transparency and information exchange across the continent.

In a further sign of deepening cooperation, the CBE and Afreximbank recently signed a memorandum of understanding to establish a pan-African Gold Bank intended to strengthen the reserves of African central banks and support the development of a stronger continental financial system.

The Egyptian Central Bank governor said the 2026 annual meetings, themed “Intra-African Trade and Industrialisation: Pathway to Economic Sovereignty,” will focus on regional integration, trade finance and reforms to the global financial architecture to better address the needs of developing economies. More than 3,000 participants, including government officials, central bank governors, investors, development partners and private sector leaders, are expected to attend the event.

According to the governor, preparations for the meetings are progressing rapidly through collaboration between Egyptian authorities and Afreximbank, with New Alamein City selected as host because of its strategic role linking Africa, the Mediterranean region and global markets. He added that the event would also showcase Egypt’s economic reforms, foreign exchange stability efforts and capacity to host large-scale international events while promoting the city as a rising investment and tourism destination.

Elombi, expressed his appreciation to Abdalla for his strong support and commitment to hosting AAM2026 in Alamein and for the efforts by all relevant institutions in coordinating these meetings in Egypt.

“Egypt and Afreximbank share a common vision to accelerate Africa’s economic development, industrialisation, and widespread economic prosperity across the continent.

“AAM2026 will provide a valuable opportunity to strengthen partnerships, unlock investment opportunities, and advance discussions on intra-African trade, Africa’s financial sovereignty, and its economic resilience in an increasingly complex global environment”.

Elombi added that “Through our Annual Meetings, Afreximbank aims to identify priority projects and actionable programmes that will accelerate the transformation of Africa’s trade infrastructure. Africa’s pace of growth will be driven by industrialisation and intra-African trade, and achieving this will require significant improvements in processing, logistics, and importantly, policy support from governments.”

The briefing underscored the strong strategic partnership between Egypt and Afreximbank, while highlighting the Bank’s support for key sectors, including financial services, trade, industrial infrastructure, manufacturing, oil and gas, telecommunications, power, and construction.