In a significant move to address Africa’s infrastructure and economic hurdles, Egypt has launched the “Team Africa” initiative, an ambitious plan to secure $500 billion in funding for nearly 300 development projects across the continent.
Foreign Minister Badr Abdelatty announced the initiative on Sunday, February 15, 2026, during the conclusion of Egypt’s chairmanship of the African Union Development Agency (AUDA-NEPAD) Steering Committee. Acting on behalf of President Abdel Fattah al-Sisi, Abdelatty framed the initiative as a cornerstone of the African Union’s Agenda 2063, specifically designed to bridge the financing gap and tackle systemic issues like poverty, unemployment, and food insecurity.
The launch comes as Egypt officially handed over the NEPAD chairmanship to Angolan President João Lourenço after a two-year tenure focused on institutional reform and financial mobilization. During this period, Cairo successfully oversaw the reorganization of NEPAD’s internal structure and passed the European Union’s rigorous “nine pillars” assessment, a feat that helped boost the agency’s budget to over $300 million. This financial strengthening has already translated into $100 million in secured funding for digital economy initiatives, public health, and the Comprehensive Africa Agriculture Development Programme (CAADP).
To ensure long-term stability, Egypt has proposed the creation of a dedicated Development Fund within NEPAD to move toward a more sustainable, self-reliant financing mechanism for the continent. This plan is coupled with a holistic security strategy that integrates peace and development, particularly through the AU Centre for Reconstruction and Development based in Cairo. On the environmental front, Egypt continues to position itself as a hub for continental resilience, hosting the Centre of Excellence for Climate Change and committing an additional $100 million specifically for water and energy projects in Nile Basin countries.
Looking forward, the roadmap includes the hosting of an upcoming African Business Summit in Egypt, aimed at catalyzing private sector participation in the 300 listed projects. This transition in leadership to Angola marks a new chapter for NEPAD, but the “Team Africa” initiative remains the primary vehicle through which Cairo intends to influence the continent’s economic trajectory over the next decade.
MK/AK/Sf/fss/abj/APA