The founding member states of the New Partnership for Africa’s Development (NEPAD) have agreed to establish the Alamein Investment Platform by February 2027 and launch a continental facility for small and medium-sized enterprises by mid-2027 to address severe financial constraints facing the African Union Development Agency (AUDA-NEPAD).
The measures were adopted in the Alamein Declaration on October 3 by the heads of state and government of Algeria, Egypt, Nigeria, Senegal, and South Africa. The summit, marking the 25th anniversary of NEPAD’s evolution into AUDA-NEPAD, was held alongside the eighth African Union Mid-Year Coordination Meeting and the inaugural Alamein Africa Business Forum. Attendees included the African Union chairperson representing Burundi, the AUDA-NEPAD Heads of State and Government Orientation Committee (HSGOC) chair representing Angola, the AU Commission chairperson, and the AUDA-NEPAD CEO.
Leaders expressed serious concern over a decline in financial contributions from African member states to the AUDA-NEPAD programme budget, stating it compromises the agency’s ability to fulfil its mandate. The declaration also highlighted broader development finance constraints, shifts in geopolitical dynamics, and Africa’s underrepresentation in global financial governance. Acknowledging that the 25th anniversary requires a shift from project-by-project interventions to continent-wide transformation, the leaders stated that the current moment demands renewed political will to fund, trust, and defend African institutions through practical measures.
To translate summit commitments into measurable results, the declaration mandated four outputs coordinated by AUDA-NEPAD, the AU Commission, Regional Economic Communities (RECs), and African multilateral development banks. First, the Alamein Investment Platform will consolidate private capital pledges from the Alamein forum, with portfolio values reported biennially. Second, a curated portfolio of bankable, investment-ready flagship projects will be presented for private and blended finance, with financial closure rates tracked. Third, the continental SME and value chain facility will launch by the mid-2027 AU Coordination Summit, reporting on supported enterprises and jobs created for youth and women. Fourth, at least one African-led de-risking and blended finance tool must be operationalised within 18 months, leveraging commitments from the Alliance of African Multilateral Financial Institutions (AAMFI) to include project preparation and risk mitigation facilities.
Citing the February 2025 AU Summit decision (AU/Dec. 283 (XIV)) and previous mandates for agility, the leaders decided to reposition AUDA-NEPAD as a more flexible and responsive institution. The agency was instructed to submit proposals to the next HSGOC meeting for more adaptable staff and financial regulations. Member states were urged to mobilise additional resources, increase predictable core funding to offset budget cuts, and provide voluntary contributions. Concurrently, the leaders encouraged AUDA-NEPAD to expand its presence through a demand-driven “Footprint Initiative,” noting an increasing number of states requesting to host national offices at their own expense.
The declaration reaffirmed the private sector, SMEs, youth, and women as engines for innovation, sustainable industrialisation, and job creation. Recalling the February 2026 AU Summit decision (Assembly/AU/11/(XXXIX)), leaders welcomed the Alamein Africa Business Forum as a permanent biennial platform in Egypt to mobilise African private capital for the Second Ten-Year Implementation Plan (STYIP2) of Agenda 2063. The agenda remains the roadmap for inclusive growth, structural transformation, regional integration, human capital development, and climate resilience.
The founding members celebrated 25 years of progress in infrastructure, agricultural transformation, regional value chains, and institutional capacity, whilst acknowledging persistent gaps in finance, execution, and coordination. They reiterated foundational commitments from NEPAD’s 2001 inception and 2002 AU adoption, including good governance, democracy, peace, sustainable development, mutual accountability, and the protection of rights and freedoms for all Africans, including migrants.
To institutionalise development momentum, the declaration stressed integrating AUDA-NEPAD’s work with AU Commission development commissioners, RECs, and member states via the “African Team” initiative. The summit concluded with appreciation for host nation Egypt and co-convener Angola, a pledge to convene the founding members’ summit periodically, and a renewed commitment to a self-reliant, peaceful, and integrated Africa funded by predictable, African-owned capital.
