Egypt’s Minister of International Cooperation, Rania Al Mashat, and Tolulope Lewis Tamoka, Chief Intergovernmental, and Africa UN Global Compact, engaged in discussions to explore collaboration opportunities to empower the private sector and promote sustainable development.
The purpose of the meeting was to enhance the existing partnership between Egypt and the United Nations, in line with the 2023-2027 Strategic Partnership Framework, according to Daily News Egypt.
Minister Al Mashat highlighted the alignment of the Global Compact’s principles and goals with the ongoing efforts within the Egypt-UN partnership and with multilateral and bilateral development partners. Private sector development is a crucial component of these partnerships, given its potential to drive economic growth, promote environmental and social practices, and support government-led development efforts.
The discussion included ways to enhance cooperation, such as knowledge and expertise exchange. Minister Al Mashat emphasized the Ministry’s “Hafez” platform, which provides financial and technical support to the private sector, connecting businesses with development partners. The platform offers financial and non-financial services, fostering a conducive business environment in Egypt. Collaboration with the UN Global Compact Africa could further South-South cooperation, transferring Egyptian expertise to other African nations.
Minister Al Mashat discussed Egypt’s experience developing a national platform for the “NWFE” initiative to encourage private sector engagement in climate action and investments.
The UN Global Compact, the world’s most prominent corporate sustainability project, seeks to broaden solutions to global concerns by pushing private-sector organizations to embrace sustainable practices. It operates a network of 15,000 businesses and 3,000 non-business bodies in 162 countries.
Minister Al Mashat recently launched the first-ever annual forum of the UN Global Compact Egypt Network, which was held in Cairo under the subject “Towards Sustainable Africa.” The forum was attended by prominent figures, including Mahmoud Mohieldin, UN Secretary-General’s Special Envoy on Financing the 2030 Agenda, Ambassador Christian Berger, Head of the European Union Delegation to Egypt, Tolulope Lewis Tamoka, Chief Intergovernmental and Africa UN Global Compact, Elena Panova, UN Resident Coordinator in Egypt, and Ayman Ismail, Chairman of the UN Global Compact Egypt Network.
