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Sisi Counts on Africa as Future for Global Economy

Sisi Counts on Africa as Future for Global Economy

Sunday, 9 December, 2018 - 12:30
Egyptian President Abdel Fattah El Sisi during Africa 2018 Forum. MENA
Cairo - Asharq Al-Awsat
Egyptian President Abdel Fattah el-Sisi counted Saturday on Africa as “the future of global economy.”

He pointed out that the continent has all the elements needed to achieve a boom in which projects implemented by entrepreneurs strongly and effectively contribute to.

Sisi’s comments were made during his participation in the “Young Entrepreneurs in Africa’s" session at the Africa 2018 Forum, which took place in the Red Sea resort of Sharm el-Sheikh and will be officially launched today (Sunday).

The two-day event will witness the participation of presidents of 10 African countries and a number of African countries’ prime ministers and ministers in addition to 2,000 businessmen and investors.

“Egypt is keen to carry out various measures to support young entrepreneurs,” Sisi said, stressing that the forum is considered one of the means of communication and boosting of relations among African countries.

He said that Egypt and all African countries have great confidence in youth’s minds and abilities, affirming that they are the most precious wealth and their innovative ideas are the main catalyst for economic activity and comprehensive sustainable development.

“The challenges witnessed by the global economy oblige us to continue cooperation between governments and the private sector to encourage and develop entrepreneurship in Africa and unify efforts to empower young people in our continent and provide them with the needed resources that enable them to unleash their creativeness,” he explained.

As part of Egypt’s vision to support and enable the youth, especially in the field of entrepreneurship, Sisi reviewed the measures taken by his country.

Egypt’s institutions have been directed to unify their efforts to establish the first regional center for entrepreneurship in Egypt in order to present all the support for startup companies in Egypt and the region.

“Besides launching training programs to qualify the youth before entering the world of entrepreneurship,” he added.

“A call has been made to establish the Arab-African Fund to support entrepreneurship in both the African and the Arab world.”

In addition to that, he pointed to an initiative that has been launched to train 10,000 Egyptian and African youths to design e-games and applications over the next three years.

He also noted launching a two-day competition in cooperation with World Bank’s International Finance Corporation among 100 African Startups.

He said the competition will take place from December 8 to 9 and is organized in cooperation with Egypt’s Ministry of Investment and International Cooperation.

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