Yes, Germany will be down 2 IPC for Africa. However, as I’ve shown, suckering the British fleet into SZ 15 is not exactly a BAD move for Germany anyway.
For one, the absolute MOST you can have in Egypt is 4 Infantry, Armor and that’s assuming you have two fighters in SZ 15 to protect your fleet from the German Air Force/Navy.
Germany puts a bunch of boats in the water in SZ 14 and makes a stand meanwhile taking out Egypt with 3 Infantry, Artillery, 2 Armor + whatever fighters/bombers can reach. (Note, I am assuming 8 IPC bid for Inf/Arm which is a standard bid from what I’ve experienced.)
This means England most likely will NOT put an Industrial Complex in Egypt on UK 1 because it will be impossible to hold. (Especially if the bomber I usually build on Germany 1 goes into S. Europe instead - and if England’s move into the med is possible, that’s exactly where I will put it, just to ensure I have two bombers that can hit Egypt on Germany 2 if I need them.)