McKenzie hails Junior Springboks’ historic victory over New Zealand

Source: Government of South Africa

Minister of Sport, Arts and Culture Gayton McKenzie has extended heartfelt congratulations to the Junior Springboks – following their historic triumph at the World Rugby U20 Championship in Italy.

The young Boks clinched a nail-biting 23-15 victory over archrivals New Zealand in Rovigo on Saturday evening, earning South Africa its first U20 world title since 2012. The win sees the team return home unbeaten, with national pride running high.

“Congratulations to the World Champs! Rugby will be dominated by South Africa for decades still,” McKenzie said.

The team arrived on home soil on Monday, landing at OR Tambo International Airport. South Africans showed up in their numbers to give the young champions a heroes’ welcome.

In a reaction statement posted on the Springboks website on Sunday, Junior Springbok head coach Kevin Foote credited the victory to South Africa’s trademark fighting spirit and the players’ unwavering resolve, particularly in defence. 

“Defence is all about character, and there were moments when New Zealand were right on our line, but we held firm. From a coach’s perspective, you can’t ask for more than that. It was a real South African defensive effort and gees (spirit) that won it for us today,” Foote said. 

Foote, who took the reins at the end of last year, described the squad as a “special group of young rugby players”, whose growth over the months had been “incredibly special”.

Captain Riley Norton praised his team’s composure under pressure and their ability to adapt to the humid Italian conditions.

“The ball was so slippery, and your fundamentals had to be spot on in these conditions, which was tough. There were a few handling errors due to the incredible humidity, and our jerseys were absolutely drenched in sweat, but I think we handled the conditions well. This win is for everyone who supported us back home,” he said. 

The Junior Boks’ win in Italy marks a proud moment in South African sport, echoing their 2012 title win over the same opposition at Newlands Stadium in Cape Town.

After landing in Johannesburg, the players will return to their respective provincial unions, carrying with them not only gold medals but the hopes of a nation inspired by their success. – SAnews.gov.za

G20 uniquely placed to tackle global crises – Minister Ramokgopa

Source: Government of South Africa

The Group of 20 (G20) is uniquely positioned to respond to the complex and interconnected crises shaping today’s world – from economic instability and inequality to climate change and geopolitical tension.

This was the key message from Minister in the Presidency for Planning, Monitoring and Evaluation, Maropene Ramokgopa, during her opening remarks at the fourth meeting of the G20 Development Working Group (DWG) held at Skukuza Lodge in the Kruger National Park on Monday.  

Addressing delegates gathered in one of Africa’s largest national parks, Ramokgopa emphasised the symbolic importance of the venue, saying it reflects South Africa’s rich natural and archaeological heritage, and its commitment to sustainable development. 

“This meeting takes place ahead of the DWG Ministerial Meeting on the 24th and 25th of July. Therefore, this week is crucial for the advancement of the shared commitment to confront the global development challenges of our time. 

“This week, we gather not just as Ministers, officials, and multilateral representatives, but as stewards of a common ambition to build a world in which progress does not bypass the most vulnerable,” the Minister said.

Ramokgopa reflected on the 2030 Agenda for Sustainable Development, adopted a decade ago, noting that it now faces its “toughest test”.

The G20, as reaffirmed in past summits such as Rio de Janeiro, has a critical role to play in leading global action.

“The G20 is uniquely placed to respond to the vast and interlinked crises shaping our world – from economic instability to environmental peril.

“In this spirit, we echo the longstanding dedication of the Development Working Group, which since 2016, has championed a people-centred development model rooted in justice, sustainability, and resilience,” the Minister said.  

The Minister identified key priorities for the DWG, starting with the need to prioritise inclusive well-being and the establishment of social protection systems.

“Social protection must be seen not as charity, but as a cornerstone of development, through fostering economic vitality, societal unity, and gender parity. The urgency to take action is underscored by the current unacceptable and persistent global gender disparities,” she said.

Citing data from UN Women, Ramokgopa highlighted persistent gender disparities:

• Women, on average, earn 20% less than men, 

• Globally, over 2.7 billion women are legally restricted from having the same choice of jobs as men, and 

• Nearly 60% of women’s employment globally is in the informal economy, while in low-income countries, it is more than 90% (this means that women are overrepresented in informal and vulnerable employment)

She called for universal access to social protection, recognition of invisible care work, and targeted support for historically excluded groups. 

While such initiatives must be primarily funded by domestic fiscal capacity, the Minister stressed the importance of international solidarity and innovative financing mechanisms. 

“We emphasise that these efforts must largely be supported by a country’s own fiscal capabilities. Yet, we recognise that innovative financing mechanisms and international solidarity have a vital role to play, particularly in helping nations navigate moments of fiscal strain or external shocks,” she said. 

Turning to the issue of public finance, Ramokgopa described domestic resource mobilisation as “non-negotiable”. 

“It begins with fair, efficient, and transparent tax systems. It also requires resolute action to stop the loss of wealth through illicit financial flows (IFFs),” she said.

She reaffirmed South Africa’s support for outcomes of the 4th International Conference on Financing for Development and commit to the actions it outlines, which include empowering governments to raise and wisely spend revenue; curbing financial opacity; and ensuring global tax norms reflect the needs of all, especially those of developing nations. 

“The scourge of IFFs undermines trust, drains essential funds, and destabilizes economies, both in origin and destination. We urge all partners to embrace comprehensive measures, such as automatic data sharing, robust beneficial ownership registries, digital identity tracking, and capacity-building for law enforcement and financial regulators alike. Only by shining light into these shadowy corners of the financial system can we hope to finance sustainable futures,” the Minister said. 

Ramokgopa said that only 15% of the United Nations Sustainable Development Goals (SDGs) are on track to be achieved by 2030, with rising debt, economic shocks, hunger, and climate-related threats worsening the development outlook.

“The resource gap now spans trillions annually. Bridging that divide demands action, creativity, and unity,” she said.

She called on the international community to “reimagine how the world responds to problems that ignore borders,” advocating for a new era of cooperation centred on global public goods, equitable governance, and inclusive multilateralism.

Among the ideas under discussion are strengthened global institutions, transparent decision-making, shared but differentiated responsibilities, and the innovative use of technology. – SAnews.gov.za

National Assembly wraps up second parliamentary programme

Source: Government of South Africa

Members of the National Assembly (NA) will this week conclude their business for the second parliamentary programme, before the start of the constituency period which is scheduled from 28 July to 1 September.

The constituency period provides Members of Parliament (MPs) with an opportunity to engage directly with communities through their constituency offices across the country. 

“This period is essential as it facilitates meaningful interaction between elected representatives and the public they serve,” said a statement issued by Parliament.

The seventh Parliament has adopted a rotational approach to its parliamentary programme, organising its work into three distinct components, including committee oversight, constituency work, and plenary sittings.

“This structure allows members to focus on each of Parliament’s core functions in turn, thereby enhancing the effectiveness and impact of parliamentary work.” 

The Chairperson of the National Council of Provinces (NCOP), Refilwe Mtshweni-Tsipane, will lead a five-member multiparty parliamentary delegation to the Fifth Ordinary Session of the Sixth Parliament of the Pan-African Parliament (PAP). 

The session is scheduled to take place in Midrand, Johannesburg, from 21 – 31 July 2025 and aligns with the African Union’s theme for 2025: “Justice for Africans and People of African Descent through Reparations”.

Members of the PAP will deliberate on a range of issues of continental significance and present their respective countries’ perspectives. 

Scheduled debates include discussions on the state and financing of the African Union, the status of governance, peace, and security on the continent, as well as reports from the African Peer Review Mechanism.

The South African delegation comprises Mdumiseni Ntuli, Mergan Chetty, Duduzile Zuma-Sambudla, and Vuyani Pambo. 

The PAP serves as a legislative organ of the African Union (AU), established under the Treaty Establishing the African Economic Community (Abuja Treaty).

Plenary sittings

On Tuesday this week, the National Assembly will discuss two motions during its plenary session. The first motion aims to revive the investigation into the issue of statutory rape, while the second motion concerns the replacement of representatives on the Board of Trustees for the Political Office Bearers Pension Fund.

Later that day, the NA will deliberate on four Bills, including the Eskom Debt Relief Amendment Bill, the Revenue Laws Amendment Bill, and the National Gambling Amendment Bill.

On Wednesday, the NA will conclude its second term programme with a plenary sitting to consider the Appropriation Bill. This Bill provides for the appropriation of funds from the National Revenue Fund for the 2025/26 financial year. It outlines allocations to national departments and public entities. 

“It also includes transfers to provinces and municipalities through conditional grants, equitable shares and other funding mechanisms to support the fulfilment of their constitutional obligations.” 

On Thursday, the NCOP will hold a plenary session during which it will consider reports from select committees and Trade, Industry, and Competition’s debate Budget Vote. 

In addition, 26 committee meetings are scheduled for this week. – SAnews.gov.za

Election of IDT chairperson and deputy welcomed

Source: Government of South Africa

Monday, July 21, 2025

Public Works and Infrastructure (DPWI) Minister Dean Macpherson has welcomed the election of the Independent Development Trust (IDT) chairperson and deputy chairperson, describing it as a step toward cleaning up the agency.

Zimbini Hill was elected as chairperson, while Professor Raymond Nkado was elected as deputy chairperson during the first sitting of the board since its appointment this year.

“I welcome the election of Mrs Zimbini Hill and Professor Raymond Nkado as chairperson and deputy chairperson, respectively. 

“Their leadership during a difficult period for the IDT has been critical to the turnaround of the entity. Their renewed mandate is a clear endorsement of the work they have started to clean up governance at the agency, improve infrastructure delivery, and restore public confidence in the IDT,” Macpherson said.

The two previously served on the board which, the Minister added, is critical for continuity as the agency is repositioning itself as a conduit for the delivery of social infrastructure and job creation.

“The IDT has a critical role to play in turning South Africa into a construction site. The appointment of a credible and capable board is central to that mission. 

“I look forward to working with the board to enhance service delivery, expand job creation through social infrastructure, and ensure that public funds are spent responsibly and transparently. By working together, we are building a better South Africa,” Macpherson said. – SAnews.gov.za

Home Affairs delivers dignity to South Africans abroad

Source: Government of South Africa

Home Affairs Minister, Dr Leon Schreiber, has announced the rollout of game-changing new Home Affairs service centres abroad.

The centres are set to assist South Africans living overseas, who have often waited 12 to 18 months just to obtain a new passport. With the opening of these new service centres, access to services is being expanded and turnaround times have been cut to just five weeks.

Minister Schreiber launched the first two service centres in Sydney and Melbourne, Australia, last week, with another set to open in Perth by the end of September. Two centres also went live in Auckland and Wellington, New Zealand. 

“This is in addition to the service centre in London, UK, which is already operational. Over the coming months, the Department of Home Affairs will open additional service centres in the United Arab Emirates and China, followed by France, Germany and The Netherlands later this year, and North America in the new year. Further announcements will follow in due course when these service centres open their doors,” the department said. 

While the department’s ultimate aim is to deliver “Home Affairs @ home” by making its services available online all around the world, the opening of service centres around the world brings immediate relief to South African citizens living in other countries.

The new service centres abroad will offer:
•    Application intake and processing for adult and minor passports, both for new passports and renewals, ending the need to travel or wait indefinitely for consular appointments.
•    Birth registration applications.
•    A new online appointment booking system that brings predictability, structure, and transparency to planning, while also accommodating walk-ins.
•    Email support and SMS-based application tracking so that clients are kept informed every step of the way.
•    Opening hours from Monday to Friday, 09:00 to 12:00, and 13:00 to 17:00; and
•    services offered will have a five-week turnaround time, compared to the current turnaround time that can take between 12 and 18 months. 

The department added that it is also working to upgrade the eHomeAffairs live capture platform, which will enable these centres to also offer Smart ID services and eliminate the use of paper forms. An announcement will be made in due course once this upgrade is complete. 

“The rollout of these service centres is yet another step on our journey towards delivering ‘Home Affairs @ home.’ Home Affairs is now closer than ever before for South Africans living abroad. These improvements are not just about better service; they are about delivering dignity to South Africans – wherever they live in the world.

“Home Affairs is now delivering for South Africans – including those living abroad – like never before,” Minister Schreiber said. 

Bookings to use the newly-opened facilities in Australia can be made here: https://services.vfsglobal.com/aus/en/zap/attend-centre  

Bookings to use the newly-opened facilities in New Zealand can be made here: https://visa.vfsglobal.com/nzl/en/zaf/attend-centre  – SAnews.gov.za
 

Angola Oil & Gas 2025 Launches Exhibition-Only Passes

Source: APO

The Angola Oil & Gas (AOG) Conference & Exhibition returns as the premier platform for the country’s hydrocarbon industry. Convening operators, financiers, service providers and technology experts in Luanda on September 3-4, 2025, the event represents the largest of its kind in the country. This year’s edition reintroduces exclusive exhibition-only passes, offering strategic access to the exhibition floor.

Striving to sustain oil production above one million barrels per day, Angola is driving a series of ambitious oil projects, from frontier exploration to incremental production to brownfield drilling and seismic data acquisition. At the same time, the country is pursuing advanced gas development opportunities, in line with goals to balance hydrocarbon production with a transition to low-carbon fuels. This strategy has created a unique opportunity for operators, service providers, technology experts and research and development firms to deploy their innovative solutions across the market. This year’s AOG 2025 exhibition will showcase these solutions, with companies from across the entire oil and gas value chain featured on the exhibition floor.  

This year’s AOG 2025 will feature Sonangol as a diamond exhibitor. As the country’s national oil company, Sonangol is spearheading efforts to increase oil production, advance gas development while decarbonizing the industry. Additionally, the event will feature the following platinum exhibitors:

  • Etu Energias
  • Labman

The AOG 2025 gold exhibitors include:

  • Azule Energy
  • ENSA
  • EY
  • Kotoil Energy
  • Cabship
  • Sonamet
  • Alfort Petroleum

Meanwhile, silver exhibitors include:

  • Petrotec Group
  • 3S Service
  • ACE Energy
  • Oceaneering
  • Easy People
  • AES
  • ITGEST

Bronze exhibitors include:

  • Algoa Cabinda Services
  • Cabinda Refinery
  • Petrofund
  • Africa Global Logistics

AOG 2025 will also feature a range of other exhibitors, showcasing innovation, technology and multi-faceted oilfield service solutions. Don’t miss out on this unique opportunity to join the AOG 2025 conference. Visit https://apo-opa.co/4kSogQV or contact sales@energycapitalpower.com for more information.

Passes are selling out fast – secure yours before it’s too late.

AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; the National Oil, Gas and Biofuels Agency; the Petroleum Derivatives Regulatory Institute; national oil company Sonangol; and the African Energy Chamber; the event is a platform to sign deals and advance Angola’s oil and gas industry. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

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Sonangol Joins Angola Oil & Gas (AOG) 2025 as Diamond Sponsor Amid Bold Development Drive

Source: APO

Angola’s national oil company (NOC) Sonangol has joined the Angola Oil & Gas (AOG) conference as a Diamond Sponsor. The company’s participation comes as it implements a bold development drive in Angola, targeting new exploration opportunities, increased production and 445,000 barrels per day (bpd) in refining capacity. Sonangol’s sponsorship reflects a broader commitment to using oil and gas as a catalyst for development in Angola and is expected to unlock new pathways for global collaboration.

Producing upwards of 200,000 bpd in oil and gas and supplying the market with 5.4 million metric tons of refined products, Sonangol is an instrumental part of Angola’s oil and gas market. The company has stakes in 35 concessions, of which nine are operated, and has positioned itself as the partner of choice for upstream players. Sonangol is in the process of transforming itself from an NOC into a competitive upstream player. The company reaffirmed its plan to launch an Initial Public Offering, with 30% of the company’s shares set to become available. The partial privatization is not only expected to generate capital to support exploration and production projects, but strengthen Sonangol’s role as a major upstream operator in Angola.

The anticipated IPO comes as Sonangol advances a series of major oil and gas projects in collaboration with international partners. These include the Agogo Integrated West Hub Development, on track for production by late-2025 and adding 120,000 bpd to the market, as well as the Kaminho deepwater development. Kaminho achieved a final investment decision in 2024 and will start operations in 2028. With the country striving to sustain oil production above one million bpd, Sonangol is also pursuing new development opportunities in Angola, working closely with international operators to unlock new resources. Notably, the company signed a memorandum of understanding with Brazilian state-owned multinational corporation Petrobras in May 2025, covering research and development activities. The agreement follows another deal signed in March 2025 between the companies, outlining the joint study of offshore acreage in Angola. 

Meanwhile, in pursuit of enhanced fuel security, Sonangol plans to increase refining capacity to 445,000 bpd through the development of three new facilities – set to complement the operational 65,000 bpd Luanda refinery. The first of these – the first phase of the 60,000 bpd Cabinda refinery – is coming online in 2025, while Sonangol is currently seeking $4.8 billion to address the funding shortfall for the Lobito refinery – a 200,000 bpd facility under construction. A 100,000-bpd facility is also planned in Soyo. The Cabinda facility alone is anticipated to reduce Angola’s derivative imports by 14% by 2026.

Beyond these projects, Sonangol has committed to strengthening skills development across the Angolan oil and gas sector. The company signed two agreements with Massachusetts Institute of Technology (MIT) in the United States (US) in June 2025, aimed at supporting the development of Angola’s natural and mineral resources by leveraging US research, innovation and technology. The first agreement was signed with MIT Industrial Liaison Program, enabling Sonangol to directly interact with MIT research areas to support projects across the energy, mining, engineering, construction and infrastructure industries. The second agreement, MIT Africa, will facilitate knowledge-exchange, staff training, joint research and academic mentoring. MIT Africa features two programs – Global Classroom and Global Teaching Labs – which allow Angolan educational institutions to collaborate with MIT. 

Distributed by APO Group on behalf of Energy Capital & Power.

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The U.S. International Development Finance Corporation (DFC) Strengthens United States (US)-Africa Critical Mineral Ties Ahead of African Mining Week (AMW) 2025

Source: APO


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The U.S. International Development Finance Corporation (DFC) approved two new investments for critical minerals projects in sub-Saharan Africa this month. The funding aims to accelerate economic development across the region while reinforcing US supply chains for minerals essential to the country’s defense, energy, security and advanced technology sectors. The investments will also drive infrastructure expansion, boost employment and increase export revenues for the African markets.

The announcement comes ahead of the upcoming African Mining Week (AMW) conference – Africa’s premier gathering for mining stakeholders. The event will showcase the role being played by U.S. institutions such as the DFC in enhancing US-Africa ties in mining and investment. AMW will feature a dedicated US-Africa Roundtable, connecting U.S. policymakers and institutional investors with African governments, project developers and stakeholders for partnership formation, deal signing and policy alignment.

AMW serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

In the last two years, the DFC has been advancing US–Africa mining collaboration through a growing portfolio of investments, loans and technical assistance grants. Among these is the DFC’s $5 million funding package for Blencowe Resources, aimed at developing the Orom-Cross graphite project in Uganda. In July 2025, Blencowe received a $750,000 tranche as part of this commitment, following an earlier $500,000 disbursement in May. The final $250,000 payment will support the project’s definitive feasibility study. With a JORC Indicated and Inferred Resource of 24.5 million tons at 6.0% total graphite content, Orom-Cross is expected to operate for 21 years, contributing to Uganda’s economic transformation and in meeting growing global demand for battery-grade graphite.

Other recent DFC commitments include a $553 million loan for the Lobito Corridor, a project aimed at improving mineral transportation for Angola, Zambia and the Democratic Republic of Congo. The DFC also approved a $3.4 million technical assistance grant for the Longonjo Rare Earths Project in Angola, a $50 million equity investment in the Phalaborwa Rare Earths Project in South Africa and a $3.2 million grant for Chillerton’s green copper mining project in Kakosa, Zambia. In Tanzania, the DFC is also backing Kabanga Nickel Limited with a loan to support the development of one of Africa’s most significant nickel sulphide deposits.

With this growing investment footprint, the DFC continues to position itself as a key partner in unlocking Africa’s mineral potential while advancing US strategic interests. AMW 2025 will serve as a powerful platform to build on this momentum, facilitating collaboration, catalyzing new investments and reinforcing US-Africa partnerships in mineral development.

Distributed by APO Group on behalf of Energy Capital & Power.

Africa Finance Corporation Secures Inaugural AED 937.5 Million Sustainability-Linked Loan Backed by United Arab Emirates (UAE) Banks

Source: APO

Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, has secured an inaugural Sustainability-Linked Term Loan Facility, marking a significant milestone in the Corporation’s innovative funding strategy and deepening its financial ties with the UAE.

The AED 937.50 million (US$255 million) facility reflects AFC’s commitment to use financial innovation tools to optimise funding for transformative infrastructure. Along with further expanding AFC’s geographical funding base, the transaction aligns future borrowing costs with measurable environmental outcomes through predefined Sustainability Performance Targets (SPTs). The structure allows AFC to benefit from reduced loan costs upon achieving key sustainability targets, signaling to investors and stakeholders the importance of environmental responsibility to its infrastructure investment mandate.

The loan facility was anchored by a syndicate of prominent UAE-based financial institutions. Abu Dhabi Commercial Bank PJSC, Emirates NBD Capital Limited, First Abu Dhabi Bank PJSC, Mashreqbank PSC, and the National Bank of Ras Al Khaimah (P.S.C.) acted as Initial Mandated Lead Arrangers and Bookrunners (IMLABs). Mashreqbank PSC additionally served as Global Coordinator and Documentation Agent, while First Abu Dhabi Bank PJSC acted as Sustainability Coordinator and Emirates NBD Bank (P.J.S.C.) acted as the Facility Agent.

“This facility represents a key milestone in AFC’s journey,” said Banji Fehintola, Executive Board Member & Head, Financial Services, AFC. “By tapping the UAE Dirham market and embedding sustainability performance into our funding terms, we are not only diversifying our funding sources but also aligning our financing strategy with our mission to catalyse infrastructure-driven economic growth and industrial development across Africa. This transaction is a testament to the strength of our partnerships in the UAE and our continued commitment to sustainable infrastructure development across Africa.”

This facility builds on AFC’s strong momentum in diversified and sustainable capital raising. Following a record US$1.16 billion syndicated loan in 2024, AFC debuted a US$500 million hybrid capital issuance and a US$400 million Murabaha facility in 2025. The Corporation also expanded its climate finance instruments – having issued a CHF150 million Green Bond in 2020, and in 2024, pioneering Green Shares with a US$30 million equity investment from the African Development Bank. These efforts complement AFC’s strategic stake in Lekela Power, through Infinity, forming Africa’s largest renewable energy platform with over 1 GW of clean power capacity, reaching 1.2 million homes and avoiding 7.9 million tonnes of CO₂ emissions annually.

Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

Media Enquiries:
Yewande Thorpe
Communications
Africa Finance Corporation
Mobile: +234 1 279 9654
Email: yewande.thorpe@africafc.org

About AFC:
AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth.

Eighteen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested over US$15 billion in 36 African countries since its inception.

www.AfricaFC.org

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Minister of Planning, Economic Development, and International Cooperation Receives Her German Counterpart on Her First Visit to Egypt to Discuss Strengthening the Strategic Economic Partnership Between the Two Countries

Source: APO


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H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, received Ms. Reem Alabali-Radovan, Federal Minister for Economic Cooperation and Development of Germany, at the Government Headquarters in New Alamein City during her visit to the Arab Republic of Egypt, within the framework of strengthening bilateral economic cooperation between the two countries. The meeting comes as a follow-up to the fruitful discussions held during the 4th International Conference on Financing for Development (Ff4D) in Seville, Spain.

At the beginning of the meeting, H.E. Dr. Rania Al-Mashat welcomed the German Minister on her first visit to Egypt and wished her success in her mission in the new German government, emphasizing the Arab Republic of Egypt’s appreciation for for the Egyptian-German economic relations, which represent a strategic partnership that reflects the keenness to advancing mutual interests and promoting development efforts, whether through bilateral governmental partnership, German investments in Egypt, and development cooperation efforts, adding that this visit marks a milestone in the process of cooperation between the two countries and reflects the depth of bilateral relations and common vision towards achieving sustainable development and economic growth.

The two ministers discussed recent developments in Egyptian-German economic and investment relations, joint development projects, and explored new mechanisms for innovative financing, especially in light of the outcomes of the 4th International Conference on Financing for Development held in Seville, Spain, and the need for the international community to contribute more to financing development in developing countries and emerging economies. They also discussed the implementation of the European Investment Guarantee Mechanism (EFSD+), which comes in light of the Egypt-EU strategic partnership and contributes to increasing foreign direct investments to the local and foreign private sector in Egypt, in addition to the preparations for the convening of the 2025 Egyptian-German governmental negotiations.

The two sides also discussed the outcomes of the 4th International Conference on Financing for Development, noting the importance of implementing recommendations of the UN expert group report on addressing debt challenges in Global South countries, which included 11 outcomes, such as redirecting and replenishing existing resources from multilateral development banks and the IMF to enhance liquidity, adopting policies to extend maturities, financing debt buybacks, reducing debt servicing during crises, reforming the G20 Common Framework to include all middle-income countries, and updating IMF and World Bank debt sustainability analysis (DSA) to better reflect the situation of low- and middle-income countries, among other measures.

The Minister of Planning, Economic Development and International Cooperation also reviewed the key features of Egypt’s national narrative for economic development, which aims to achieve a structural transformation in the Egyptian economy towards tradable and exportable sectors by strengthening macroeconomic policies, encouraging foreign direct investment, promoting industrial development, and supporting labor market and employment policies, noting that Egyptian-German relations are reflected in achieving these objectives.

In this context, H.E. Dr. Al-Mashat praised the success of the Egyptian-German Debt Swap Program, where the Egyptian government succeeded in signing debt swap agreements with a total value of €340 million to finance various development projects across multiple sectors, including the new tranche of the debt swap program worth €100 million for the period 2024–2026, explaining that the program contributed  to using the local currency equivalents of debt repayments to implement development projects in various sectors, including education and technical education, social protection, health, improving renewable energy supply. Ongoing coordination is underway to allocate €50 million from the program to support the energy pillar of the “NWFE” program, financing part of the local component for connecting ACWA Power (1) and (2) wind farms, with a total capacity of 1,100 MW. She reaffirmed that the Egyptian-German Debt Swap Program is a successful model for promoting financing for development.

The discussion also touched on the Financial Cooperation Agreement between Egypt and Germany, which was signed on May 25, 2025, and includes a €118 million financing package in the form of concessional financing and financial contributions (complementary grants), and includes funding for the following projects: financial support for the Comprehensive Technical Education Initiative and the support for the establishment of 25 Egyptian Centers of Excellence. In the same context, the two sides also discussed the the status of the governmental negotiations to be held between the Egyptian and German sides at the end of this year, expressing their aspiration to enhance economic and development cooperation between the two governments, as well as allocating new financial contributions to finance development projects aimed at driving economic growth.

Furthermore, H.E. Dr. Al-Mashat pointed out that, In light of the success of the country platform for the “NWFE” program and the international community’s expansion of the concept of national platforms to mobilize investments, work is currently underway, in coordination with the Ministry of Industry, the European Bank for Reconstruction and Development, and other development partners, to launch the first national platform to mobilize financing and technical support for the industrial sector. This aligns with the national narrative for economic development to support the state’s efforts in localizing industry and encouraging domestic production, noting that the narrative sets a unified vision for the Egyptian economy to shift towards tradable sectors.

H.E. also highlighted the importance of strengthening South-South cooperation and triangular cooperation through German collaboration to stimulate efforts to transfer Egyptian expertise in the field of development to developing and emerging countries, noting Egypt’s keenness to advance the prospects of joint cooperation in the field of water within the “NWFE” program with the German side.

For her part, the German Minister expressed her aspiration to build on the Egyptian-German strategic relations and the progress achieved in recent years to further advance joint cooperation in light of regional and global challenges.

In the same context, the two sides addressed the Egyptian-German economic cooperation portfolio, which currently amounts to approximately €1.6 billion, aiming to implement various development projects across priority sectors that contribute to sustainable economic development including energy, climate, water supply, sanitation, irrigation, migration, solid waste management, and enhancing the competitiveness of the private sector, which are funded through multiple mechanisms, such as the Egyptian-German Debt Swap Program, concessional financing, financial contributions, and technical cooperation grants.

Distributed by APO Group on behalf of Ministry of Planning, Economic Development, and International Cooperation – Egypt.