SHARM EL-SHEIKH, Egypt (Reuters) - Egypt is promoting itself as a linchpin for intra-African trade and a model of economic reform as it prepares to chair the African Union in 2019.
The country hosted a high-level business forum on Saturday and Sunday in the Red Sea resort of Sharm el-Sheikh that will be followed by an intra-African trade fair in the coming week in the capital, Cairo.
In a speech to the forum, President Abdel Fattah al-Sisi encouraged investors from inside and outside Africa to take advantage of opportunities on the continent as countries including his own pursued economic reform.
As chair of the African Union, “we will seek with sincere effort to build on what has been achieved over the past years and to complete our continent’s development agenda,” Sisi told the forum, which was attended by heads of state from countries including Rwanda, Sierra Leone, Niger and Madagascar.
Egypt has been praised by international lenders for moving swiftly to implement structural reforms agreed with the IMF in late 2016, though austerity measures and inflation have left many Egyptians struggling to get by.
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