Dubai invests $2.77m in Africa to promote bilateral trade

desmond frimpong 12:00 - 02 November 2017

Organising frequent trade missions to African countries, conducting specialised research and studies, and developing the Africa Gateway app to expand its members’ access to opportunities opening up in the fast-growing market are but a few of activities carried out by Dubai in Africa

The Dubai Chamber of Commerce and Industry has committed $2.77 million to raise awareness of trade and investment opportunities and to promote Dubai as an attractive business hub for Africa.

Dubai has over the past five years put measures in place to strengthen economic ties between Dubai and Africa.

This aim birthed the four representative offices on the African continent and organising the Global Business Forum on Africa in Dubai.

President and CEO of the Dubai Chamber, Hamad Buamim explained that these efforts have given a major boost to UAE-Africa trade ties by facilitating cooperation between businesses and investors on both sides.

He noted that the Global Business Forum on Africa was launched in 2013 with the intention of establishing an ideal platform to explore business potential in Africa, adding that participation in the forum has increased significantly in recent years.

Explaining further, he revealed that Dubai’s non-oil trade with Africa has grown to exceed AED 700 billion in the last five years, while 10,000 African companies have joined Dubai Chamber over the same period, bringing the total number of African businesses registered with the Chamber to over 17,000 today.