Islam Zekry, Group Chief Finance & Operation Officer and Executive Board Member at CIB, explores how GCC-Africa partnerships are driving economic growth, resilience and a transformative era of South-South cooperation, and how Egypt’s strategic location and financial expertise position it as a key player in emerging trade corridors.
Global Finance: How can new trade alliances and partnerships, particularly between the GCC and African nations, drive economic growth and resilience across both regions?
Islam Zekry: The partnership between the Gulf Cooperation Council (GCC) and Africa is gaining momentum. However, what is changing is the depth and strategic intent behind these partnerships. As global supply chains fragment and capital becomes more selective, structured trade alliances between GCC nations and African economies have the potential to create one of the most significant South–South growth corridors of the next decade.
Several structural complementarities underpin this opportunity. GCC economies possess deep capital pools, sovereign investment vehicles, advanced logistics capabilities and strong global trade linkages. In addition, many African economies are rich in natural resources, arable land, renewable energy potential and rapidly growing consumer markets with favorable demographics.
When strategically aligned, partnerships can yield positive growth outcomes. For example, food security partnerships, where African agricultural production meets Gulf demand, demonstrate this potential. Moreover, investments in energy and transition, particularly in renewables and green hydrogen, support the transition towards cleaner energy resources. Such partnerships can also drive the development of the infrastructure and logistics sector—strengthening ports, industrial zones and transport corridors. Ultimately, financial sector integration enhances capital flows and trade finance capacity.
“Egypt is not just a transit point for global trade—it is becoming a focal point in a more integrated Afro-Arab economic architecture.”
Islam Zekry, Group Chief Finance & Operation Officer and Executive Board Member at CIB
Beyond capital deployment, what differentiates the next phase of GCC–Africa engagement is the development of capacity for resilience. Global shocks—whether pandemic disruptions, geopolitical tensions or commodity volatility—have demonstrated the importance of diversified trade relationships. GCC–Africa alliances reduce overdependence on traditional West–East corridors, creating balanced, multipolar trade flows.
Therefore, for these partnerships to reach their full potential, financial architecture must evolve in tandem with physical infrastructure. Efficient cross-border payment systems, local currency settlement mechanisms, risk-sharing frameworks and strong banking partnerships determine how seamlessly goods, services,and capital move between the two regions. This is where banks with both regional understanding and international connectivity play a transformative role, not merely as financial intermediaries, but as enablers of structured trade ecosystems.
GF: What makes Egypt uniquely positioned to serve as a trade and investment hub between the Middle East and Africa, and how can this role evolve in the context of emerging trade corridors?
Zekry: Strategically positioned at the convergence of Africa, the Middle East and Europe, Egypt controls one of the world’s crucial maritime arteries through the Suez Canal. The country boasts one of Africa’s largest and most diversified economies and hosts one of the region’s leading banking sectors.
However, Egypt’s strategic relevance goes beyond geography. The country serves as a natural logistical bridge. It connects Mediterranean trade routes with Red Sea and Gulf shipping lanes while maintaining deep commercial ties across Sub-Saharan Africa. This dual orientation—northward to Europe and southward into Africa—positions Egypt as a balancing hub within emerging trade corridors.
The country has also built significant industrial and export capacity. Its robust manufacturing base, expanding energy sector,and growing role in Liquefied Natural Gas (LNG) and renewable energy markets position it as a credible anchor economy within regional value chains. Egypt’s financial institutions support cross-border expansion and structured trade finance. Egyptian banks have developed strong capital bases, regional expertise and global correspondent networks, enabling them to intermediate complex trade flows across Africa and the Middle East.
As new trade corridors emerge, from Red Sea logistics networks to Gulf-backed infrastructure investments in East Africa, alongside the African Continental Free Trade Area (AfCFTA) driven continental integration, Egypt’s role is set to evolve across three key areas. The country functions as a gateway for capital deployment into Africa, serving as a strategic hub for GCC and international investors seeking structured entry into African markets. It also has the potential to serve as a regional trade finance hub, facilitating corridor-based financing between North Africa, East Africa,and the Gulf. Finally, Egypt can act as a connector of payment ecosystems, enabling interoperability between African financial systems and Middle Eastern capital markets.
The next phase of Egypt’s development hinges on deepening this integration, aligning customs frameworks, digitizing trade documentation, strengthening regional payment systems and encouraging bilateral currency arrangements. If strategically executed, Egypt will not simply remain a transit point for global trade, but will become a focal point in a more integrated Afro-Arab economic architecture.
The future of Middle East–Africa trade alliances will not be defined solely by infrastructure announcements or headline investments. It will depend on how effectively capital, policy and financial systems converge to support real economic exchange. In this context, Egypt stands out as both a geographic and financial bridge. Therefore, strengthening GCC–Africa partnerships represents not just an opportunity, but a structural shift toward greater regional resilience and South–South cooperation.
