Egypt : $500B “Team Africa” development initiative for around 300 priority development projects across the continent
At the NEPAD steering committee meeting on February 13, 2026, Egypt unveiled its Team Africa initiative to **mobilise up to $500 billion for around 300 priority development projects across the continent, aligned with Agenda 2063’s second ten‑year plan.
Foreign Minister Badr Abdelatty, speaking for President Abdel Fattah Al‑Sisi, said NEPAD’s budget rose above $300 million after passing the EU institutional assessment, and that an additional $100 million was secured for public health services, digital economy efforts, and the Comprehensive Africa Agriculture Development Programme (CAADP).
Egypt will hand over NEPAD’s leadership to Angolan President João Lourenço and has proposed studying a NEPAD Development Fund to sustainably address financing gaps. The plan also features a Centre of Excellence for Climate Resilience and Adaptation hosted in Cairo.
An African Business Summit 2026 in Egypt is planned to deepen cooperation among governments, private sector and financial institutions, reflecting a push for innovative financing to bridge Africa’s development challenges.
