Trade exchange between Egypt and African countries has surged to nearly $11 billion, up sharply from just $4.3 billion in 2014, reflecting a decade of intensified Egyptian engagement with the continent and expanding economic cooperation across African markets, according to Yousry El Sharkawy, Chairman of the Egyptian African Businessmen’s Association.
Speaking on the sidelines of the Egyptian-Liberian Business Forum held in Cairo during a visit by a Liberian delegation, El Sharkawy said Egyptian exports to Africa have climbed to approximately $7.9 billion, while imports from African nations stand at around $2.4 billion.
He described the growth as evidence of a broader strategic shift in Egypt’s economic orientation toward Africa, while stressing that the next phase will require deeper commercial, investment, and industrial integration across the continent.
El Sharkawy acknowledged that penetrating African markets remains a major challenge for Egyptian companies, citing limited market intelligence, insufficient coordination in previous years, and a lack of organized trade frameworks.
However, he noted that the landscape has begun to change significantly in recent years with the emergence of institutions and initiatives supporting African expansion, particularly the African Continental Free Trade Area (AfCFTA), alongside the growing role of business associations and cross-border partnerships.
According to El Sharkawy, the past four to five years have produced several Egyptian success stories in West and East Africa, supported by a noticeable increase in trade missions, business delegations, and commercial forums.
“The market-entry phase is always the most difficult for companies,” he said. “But once African consumers and businesses become familiar with Egyptian products, expansion becomes far easier.”
Egypt is now targeting trade exchange with Africa worth nearly $30 billion by 2030, a goal officials and business leaders view as central to Cairo’s broader regional economic strategy.
El Sharkawy said African markets continue to offer substantial opportunities across multiple sectors, particularly energy, infrastructure, agriculture, and manufacturing.
The continent, he explained, faces rising demand for conventional and renewable energy solutions, including solar power, while infrastructure needs remain extensive across transportation, healthcare, education, and utilities.
Egyptian companies, he said, possess strong expertise in executing major infrastructure projects ranging from bridges and roads to dams, hospitals, and schools.
He added that countries such as Liberia are increasingly seeking Egyptian frozen food products, electrical appliances, ready-made garments, and construction materials, while agricultural investments and production activities also present major growth opportunities.
Despite Liberia’s relatively small population of around five million people, El Sharkawy said the country should be viewed strategically as an entry point into the wider West African region rather than as a standalone market.
Egyptian investors, he argued, must adopt a regional approach when entering African markets to maximize expansion opportunities and achieve broader distribution across neighboring economies.
El Sharkawy also emphasized Egypt’s growing role as one of Africa’s leading investment destinations, supported by modern infrastructure, geographic positioning, and the scale of its domestic market.
He noted that Egypt has ranked among the continent’s top recipients of foreign direct investment for more than three consecutive years.
Looking ahead, he identified two strategic priorities for Egypt’s African economic agenda: increasing imports of raw materials and industrial inputs from African countries to support domestic manufacturing, and attracting African and foreign investors to leverage the Suez Canal Economic Zone and Egypt’s free zones as export and distribution hubs for African goods such as tea, coffee, and agricultural commodities.
He stressed that strengthening intra-African trade should extend beyond increasing Egyptian exports to the continent.
Instead, he said, Egypt should position itself as a global gateway for African products, helping channel exports from across the continent into international markets while contributing to a more balanced African trade structure.
Africa’s total trade with the world currently stands at approximately $1.5 trillion, including around $870 billion in imports and nearly $700 billion in exports, according to El Sharkawy.
He argued that improving Africa’s balance of payments and expanding value-added trade flows will be critical to raising living standards and accelerating long-term economic development across the continent.
Follow the latest news on Google News
