Browsing: Dubai

A port. The Dubai Chamber’s ‘Why Africa?’ initiative is focusing on East Africa and explores key economic indicators and their analyses in the continent.

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. …

A session at the ongoing GBF in Dubai. Africa’s emerging “contactless economy” is growing rapidly creating plenty of new growth opportunities that African and foreign companies and investors.

“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…

Dubai-AI-industry-United-Arab-Emirates-UAE- Source Rise and Shine tours

Tanzania has always run on a wider and richer path of reliable business partners, and the United Arab Emirates (UAE) is one of them. The two countries have been engaging in a number of diplomatic and economic operations since 1974, and they have built a healthy partnership. 

With the new administration led by President Samia Suluhu, which is strictly focused on opening and building strategic partnerships with other countries, the UAE and Tanzania could foster more tangible business relations, from the extractives sector to tourism and hospitality. 

The new administration is now streamlining deliberate efforts to promote tourism and industrial development to create more jobs and improve the national economy. 

At the moment different top-tier investing parties have showcased their confidence in Tanzania, including Africa’s wealthiest man, Aliko Dangote, who plans to construct a fertilizer factory {The Citizen}. 

The UAE holds nearly 10 million people and stands on a $421

Oil exploration site in Bulisa district. Uganda has made positive strides towards commercialising its crude oil.

Just three decades ago, Dubai was a little more than a desert with patchworks of settlements and limited infrastructure. However, the country was timely in exploiting the opportunities offered by the oil boom in the United Arab Emirates (UAE). This strategy produced unprecedented wealth for the small Gulf nation.  

As mentioned, oil is a limited resource and with this in mind, Dubai's ruler Sheikh Maktoum bin Rashid Al Maktoum and his successor, Mohammed bin Rashid Al Maktoum, put into effect a plan that is turning the city into the world's top tourist destination. …

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Commenting on Africa’s participation at the conference and the continent’s development in general Egypt’s representative at Expo 2020, Ahmed Maghawry Diab, who is also an official from the country’s Ministry of Trade and Industry said, "...the world has started to look at Africa and rediscover it…the continent has a lot of difficulties, but it has also started to develop."

Another optimist for the continent’s development and what it has to offer is Dr. Levi Uche Madueke, Head of the African Union (AU) Strategic Partnerships Office and AU Commissioner General for Expo 2020 said, “…Africa is undergoing a dynamic socio-economic and political transformation. There is a lot happening on the continent but the world is yet to hear all about it. It is time to take charge of Africa’s narrative and reclaim its rightful place in the global arena.”…

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Children using a smoky lamp to study. More than 50 per cent of Sub-Saharan population is without electricity.

More than half of Sub-Saharan Africa’s population still does not have access to electricity according to a March 2020 report by the IMF. This means that the potential of the energy sector in Africa is immense since industry, education, healthcare and many other aspects of the economy cannot be fully exploited without power. 

In addition to inadequate power, those in Sub-Saharan Africa (SSA) have to pay on average nearly twice as much for electricity in comparison to consumers elsewhere in the world.  Even with power for the 50 per cent of the population, power shortages cost the continent an estimated 2 to 4 per cent of GDP a year.  …

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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 …

Dubai's food and beverage trade with Africa

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.

ALSO READ: Emirates to expand flights from South Africa to 28 weekly

Dubai’s food and beverage trade with Africa accounted for around 13% of …