Egyptian President, Abdelfatah Al-Sisi, said that, African development is a main challenge to everyone, and requires evolving mechanisms of joint African action.

Al-Sisi made the remark during the First International Business and Investment Forum (Africa 2016), held in Egypt’s Red Sea resort of Sharm El-Sheikh.

Al-Sisi underlined the necessity of evolving human capabilities, in terms of joint action, paying much attention to education and launching several development initiatives and projects.

Meanwhile, President of the African Development Bank, Akinwumi Adesina, stressed the need to remove all obstacles, so as to achieve sustainable development in Africa, urging all countries to take this step. He said that, the African Continent is facing many challenges, due to low prices of oil, metal and many commodities, adding that, this led to a fiscal imbalance of African countries.

He, however, noted that, Africa has many opportunities, which contribute to achieving development and building prosperity.

Ethiopian Prime Minister, Hailemariam Desalegn, called for setting clear policies and strategies, to cope with the current situations, and providing economic and social environments, as well as, benefiting from the capital.

He said that, the Common Market for Eastern and Southern Africa (COMESA), the Southern African Development Community (SADC), and the East African Community (EAC) have launched a major free trade zone in Africa, to improve infrastructure and encourage investment.

He expected that the event would provide several investment opportunities in Africa, for both public and private sectors.

The two-day forum seeks to promote trade and investment, and build partnerships with governments in Africa and international partners of development.

It also sheds light on investment opportunities in Egypt, so as to attract foreign investors

Source: MENA