Host Ghana will meet Cameroon's Indomitable Lions, who knocked out Tunisia, 3-2, on Stephane Mbia's header in overtime.
Striker Amr Zaki scored the winning goal for Egypt in the 38th minute when Ahmed Fathi's cross hit deflected off Zaki at the far post.
Hosni Abd Rabou gave the Pharaohs the lead in the 23rd minute when he converted a penalty kick for his fourth goal of the tournament, but recent Manchester United signing Manucho scored with a left-footed rocket from outside the area four minutes later.
Mbia scored twice to lead Cameroon past Tunisia, which had come back from a two-goal deficit to send the game into overtime. Mbia put the Lions ahead in the 18th minute, then Geremi made it 2-0 with a goal on a free kick over the wall and inside the near post.
Tunisia's Chaouki Ben Saada answered with a free kick of his own to reduce Cameroon's lead going into halftime. Yassine Chikhaoui sent the game into overtime with the tying goal in the 81st minute.