Central Bank of Egypt Governor Hassan Abdalla said Egypt had signed around 15 cooperation memorandums of understanding with African central banks, according to a State Information Service report dated 4 October. He made the remarks as a keynote speaker at the Alamein Africa Business Forum session “Africa’s New Growth Compact in a Turbulent World.” The agreements, he said, cover training, governance, exchange of expertise and institutional capacity building in the continent’s banking sector. SIS attributed the account to Abdalla; it did not provide the counterpart banks’ names, signing dates, individual agreement texts or implementation schedules. The figure describes memorandums already signed, not 15 new agreements announced at the forum.

Abdalla also said Egyptian banks were seeking to expand across African markets through credit lines and financing facilities. He linked closer banking cooperation to investment, liquidity and the development of capital-market operations across the continent. His argument was that financial ties can help capital circulate within Africa, where he said some funds leave for developed markets before returning at higher cost. The report presents this as the governor’s rationale and does not quantify the amount of capital involved or establish an effect already produced by the memorandums. Abdalla called for practical, measurable and implementable commitments and for improved access to financing, stronger banking systems and better investment and creditworthiness assessment mechanisms.

Two numerical proposals were explicitly framed as proposals: directing 10% of African banking liquidity toward investment within the continent and investing 5% of international reserves in Africa. The report does not say that African governments or central banks adopted either target. Abdalla also advocated greater use of local currencies in some intra-African trade settlements as a gradual way to strengthen commercial and financial links, alongside easier movement of goods and people and faster customs clearance. He cited an annual addition of about 12 million people to Africa’s labour market and about 3 million formal jobs created, arguing for investment in education and skills. The forum itself was described by SIS as a biennial event in New Alamein under an African Union summit decision from February 2026. The report records a policy speech and existing MoUs; it does not announce a new regional payments system or binding reserve rule.