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The report notes that figures reveal that the region’s share of Dubai total trade grew considerably over the years. In 2020, it was the emirate’s third-largest trading partner in Africa, with total trade value hitting US$12.2bn. This was a 24.4 per cent share of Dubai’s trade with Africa.
East Africa’s trade with Dubai is relatively balanced.
Imports accounted for 43 per cent of trade activity, while re-exports and exports made up 42 per cent and 15 per cent in 2015-2020. Imports grew 22 per cent in the same period, while exports grew 15 per cent, and re-exports 3 per cent. …
“This is in contrast to what we see in Africa, where technology is seen as more developmental than disruptive. It allows new players to enter into the market – a market that is often uncharted.”
Lacina Koné spoke about Smart Africa’s vision to transform Africa into a single digital market by 2030. “The strategy consists of five main points: putting ICT at the heart of national development plans; improving access to ICT especially for banks; ensuring transparency, accountability, and openness through ICT; putting the private sector first in the ecosystem; and using ICT to promote sustainable development,” he said.
“Looking at the registered mobile money market share, Africa owns 50 per cent, we also own 70 per cent of mobile money transactions globally. Africa by nature is a mobile continent and we are leading the world in that sector,” Koné added.…
- The cost associated with policy instability and unpredictability is often passed down to consumers
- In 2020, the manufacturing industry in Africa experienced reduced demand and depressed production capacity
The biggest challenge that the manufacturing industry faces in Africa is unpredictable business environments.
This is according to the Chief Executive Officer of Kenya Association of Manufacturers Phyllis Wakianga who says the sector is faced with unpredictable fiscal and regulatory policies that discourage the industry from scaling up their businesses.
She adds that the situation also leads to investors seeking more suitable, predictable and secure markets to relocate their businesses.
“Unfortunately, the cost associated with policy instability and unpredictability is often passed down to consumers, whose spending power has been crippled by the ongoing pandemic,” he says in an exclusive interview.
Wakianga also reveals that such instability is a blow to manufacturers, who are struggling to reduce costs, in a highly uncertain …
Long gone are the days you hear of Africa and envision mud huts and malnourished babies. Well, maybe long-gone is an over-statement because these unfathomable pasts are buried in very shallow time graves and ever threatening to re-emerge and haunt the continent again.
It is for this very reason that Africa, and its trade and development partners must harness the continent’s technology potential and put innovation at the forefront of every nation’s development agenda.
Why? For Africa, it is how the continent will keep those shallow graves buried and build a bright, healthy future and for the world—well, Africa is the market of the future. Just to bring this market into perspective – as of January 2021, in the heat of the global pandemic, African tech business enterprises have raised US$940 million, making the continent the strongest market for technology worldwide.
Impressive, right? While many on the continent may still…
With the sixth edition of the Global Business Forum Africa event series set to run this year from October 13–14, 2021 in the United Arab Emirates (UAE), businesses from Africa are increasingly looking at Dubai as a gateway for them to expand into markets across the GCC, Asia, and Europe.
Dubai’s focus on the African continent has been evident through GBF Africa, which aims at bringing the trade and investment community back together to explore bilateral trade opportunities between Dubai and Sub-Saharan Africa.
This year’s Forum is held under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
UAE has served as a hub that global businesses have used to launch and run their operations in the African continent for a number of years now.
According to Dubai Chamber of Commerce and Industry’s Director of …
The Dubai-Africa trade is slowly gaining momentum at awakening speeding with Africa presently emerging as one of the most important markets for the United Arab Emirates.
In the latest analysis by the new Dubai Chamber, the Dubai-Africa trade has shown significant growth in Dubai’s food and beverage trade, excluding tobacco, that has reached $13.9 billion during the period of 2015-2020.
This sector has been identified as a key factor expected to drive bilateral trade in the short-term.
According to the new Dubai chamber report, In 2020 the value of food and beverage trade (excluding tobacco) between Dubai and Africa amounted to $2.4 billion in food and beverage trade, marking a growth rate of 18 percent compared to the previous year and the highest level since 2017.
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Dubai’s food and beverage trade with Africa accounted for around 13% of …