Browsing: Dubai

Dubai’s non-oil trade with Africa will exceed AED 1 trillion for the period extending from 2011 until the end of 2019, according to Majid Saif Al Ghurair, Chairman of Dubai Chamber. The business leader noted that it had already reached AED926 billion in the 2011-2018 period.

H.E. Al Ghurair who was speaking at the fifth edition of the Global Business Forum Africa (GBF Africa) in Dubai as the two-day forum, asserting that the African continent is a key partner in Dubai’s plans to diversify its economy.

Organised by Dubai Chamber of Commerce and Industry (Dubai Chamber) under the patronage of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

In his opening speech, H.E. Majid Saif Al Ghurair highlighted the long-established UAE-African relations in all fields, and Dubai’s status as Africa’s gateway to new markets building on its strong presence …

For years, Zimbabwe has faced strict trade restrictions as the international community felt there was a gross violation of human rights and political freedoms. This has left Zimbabwe alienated from the league of nations as well as low international trade.

But now, the political times have changed and Zimbabwe is now declaring that it is open for business. The country is committed to creating conducive conditions and incentives for investors, according to Zimbabwean President H.E. Emmerson Mnangagwa.

Speaking at the just-concluded Global Business Forum Africa 2019 in Dubai, Mnangagwa discusses economic reforms in Zimbabwe and new business opportunities emerging across the country.

During an interactive session on the first day of the forum, H.E. Mnangagwa explained that economic zones are being created in Zimbabwe as the government looks to attract foreign investment. He stressed the importance of developing new initiatives that invest in skills development and human capital.

His …

Dubai sits at the crossroads of Africa, the Middle East, Asia and Europe. To say that this is a strategic location would be a major understatement. This city is an incredible story of entrepreneurial success and has become an inspiration for African countries and other developing nations across the globe.

In anticipation of the 2019 edition of the Global Business Forum Africa in Dubai (GBF Africa), FurtherAfrica had the privilege of talking to the man leading an institution that plays a fundamental role in supporting the development of Dubai’s business community. His Excellency Hamad Buamim, President and CEO of Dubai Chamber of Commerce and Industry has been at the helm of the non-profit public organisation since 2006. International expansion is a major focus for Dubai Chamber which operates 10 representative offices around the world, including 4 in Africa.

Since it began building its presence in Africa, the …

The High Court in Nairobi, Kenya, has ruled in favour of Kenya Revenue Authority(KRA) in a tax related case filed by a Dubai based company.

The company was seeking orders to stop KRA from collecting Ksh2.3 billion(US$238.8 billion) in tax debts from its affiliate company registered and operating in Kenya.

READ ALSO:KRA struggles as stinking rich Kenyans hide trillions abroad

Justice Pauline Nyamweya on September 23, 2019 ruled in favour of KRA and struck out a Judicial Review filed on July 28, 2018 by United Arab Emirates(UAE) registered firm, Suzan General Trading JLT.

Suzan General Trading JLT had sought among others an order to stop KRA from enforcing the warrants and distress notices issued on July 9, 2018 in respect of a tax (customs duty) debt owed by its affiliate company Diplomatic Duty-Free Limited (DDF) amounting to 2, 296,210,133 shillings.

The company had also sought to stop KRA from …

Afrexim Bank is providing a USD 500 million financing facility to fund power transmission, infrastructure and agricultural projects. …