Minister of Finance Ahmed Kouchouk said that economic and financial reforms in any country must reflect a deep understanding of internal and external challenges, as well as people’s priorities.

 

He added, during the conference organized by the Egyptian African Businessmen’s Association in cooperation with E-Tax, titled “The Egyptian Experience in Financial Reforms for Development,” that Egypt is ready to share the details of its experiences and expertise with its brothers to enhance the competitiveness of African economies for the benefit of their countries and peoples.

 

Ahmed Kouchouk emphasized that Egypt’s financial reform experience is based on a comprehensive vision centered on investing in human capital, and implementing financial and structural reforms aimed at sustainable resource development, while maintaining a balanced approach that supports economic competitiveness, private-sector growth, and overall economic activity.

 

He noted that Egypt’s reforms have not been limited to financial measures alone, but have also included capacity building, modernization of administrative systems, and strengthening partnerships with the private sector as a key engine for growth, contributing to attracting investment, boosting production, and expanding exports.

 

The minister said that Egypt’s economy has begun to gain strong momentum, noting that private investments increased by 73% during the 2024/2025 fiscal year. This was accompanied by an improvement in economic growth rates, an increase in exports, a decline in inflation, and foreign reserves exceeding $50 billion, in addition to stronger inflows of foreign direct investment.

 

He added that, for the fifth consecutive year, Egypt remains the largest recipient of foreign direct investment in Africa. The minister also pointed out that the previous fiscal year recorded a strong primary surplus amounting to 3.5% of GDP, stressing that this performance would not have been possible without the confidence and strong engagement of both local and foreign private sector partners, which enabled the country to achieve solid fiscal and economic results in a short period of time.

 

The minister explained that the government is continuing along the same economic and fiscal path, noting that indicators from the first half of the year reflect this progress. Economic growth reached 5.3% in the first quarter, while private investments rose by 40%, alongside growth in both industrial activity and exports. He added that Egypt’s economic outlook has improved in international markets and that coordination is ongoing with the Ministry of Investment to reduce customs clearance times, lower trade costs, and support local manufacturing.

 

He also reviewed Egypt’s experience in market access and diversification, including expanding toward new markets such as China and Japan, in addition to issuing sovereign sukuk and diversifying financial instruments and sources of financing, which has helped broaden the investor base, mitigate risks, and support national development plans.

 

Kouchouk stressed that Egypt is fully prepared to transfer its expertise to African partners in the areas of financial reform, capacity building, financing tools, and market access, underscoring Egypt’s belief that Africa’s advancement requires coordinated efforts and integrated expertise to achieve comprehensive and sustainable development.

 

For his part, Dr. Yousry El-Sharkawy, Chairman of the Egyptian African Businessmen’s Association, said the association is committed to serving Africa’s business and financial community to build a strong and sustainable economy, expressing aspirations for a robust private sector at the continental level under the vision “From Africa to Africa.” He also commended the Minister of Finance for his efforts to stimulate investment through tax incentive packages.

 

Meanwhile, Ibrahim Sarhan, Chairman and CEO of eFinance Investment Group, said the group is ready to transfer its financial technology expertise to sister African countries. He noted that the group has worked closely with the Ministry of Finance for more than 20 years, a partnership that has helped create a successful Egyptian model for digital transformation.

 

Khaled Abdel Ghany, CEO of e-Tax, stated that the company is working to build ambitious African partnerships aimed at creating a clearer tax environment through simplified electronic procedures. He explained that a national program for digital tax transformation has been implemented, with artificial intelligence integrated into daily operations, emphasizing the company’s commitment to fostering a customer-service culture to achieve the highest levels of taxpayer satisfaction.

 

The roundtable was attended by Ambassador Abou Bakr Hefny, Deputy Minister of Foreign Affairs for Migration and Egyptians Abroad; Ambassador Mohammedou Labarang, Ambassador of the Republic of Cameroon to Egypt; Eng. Ibrahim Sarhan, Chairman of e-Finance Group; Dr. Yousry El-Sharkawy, Chairman of the Egyptian African Businessmen’s Association; and Mr. Khaled Abdel Ghany, CEO of eTax.