Dubai: African companies operating in Dubai have seen a percentage growth of 171% from the period from 2008 to mid-2014, according to Dubai Chamber of Commerce and Industry report.
The UAE-Africa growing trade ties, challenges and opportunities will be discussed during the 2nd Africa Global Business Forum, taking place on October 1st and 2nd in Atlantis The Palm, Dubai. Aliko Dangote, Africa’s richest man, whose business activities drive economic growth across the continent has confirmed his presence at the Forum.
Dangote will join in drawing out the story of the rapid change and global integration of Africa and Dubai, providing tangible insights into the two regions’ opportunities, challenges and synergies.
Organised by Dubai Chamber of Commerce and Industry under the patronage of H.H. Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice-President and Prime Minister and Ruler of Dubai, the forum will explore new business partnerships and opportunities arising between Africa and Dubai.
In its strategy of expanding into the African continent, Dubai has become a major trading partner for the region as the emirate’s non-oil trade with the continent increased by 141%, up from AED 37.9 billion in 2008 to AED 91.3 billion ($25 billion) in 2013.
“The participation of prominent speakers from Africa reflects on the importance of the forum being held in Dubai. This will lead to enhanced bilateral relationship between the emirate and leading countries of the African continent,” Hamad Buamim, President and CEO, Dubai Chamber, said.
He further said that the participation of Aliko Dangote will enrich the discussion with his experience and ideas for the benefit of all the participants of this important forum.
The sectors under which African companies operate in Dubai included Trade (60%); Construction (14.8%); Logistics (8.2%); Real Estate (8.1%); Manufacturing (2.5%); Agriculture (0.2%) and Tourism and hospitality (0.9%).
At present there are 414 Nigerian companies registered with Dubai Chamber and operate in Dubai.
Supporting Dubai and Africa’s trade and connectivity is Emirates airline serving 21 major African destinations in addition to four cargo destinations while flydubai serves six destinations across major African countries.
The 2nd Africa Global Business Forum 2014 is by invitation only and will assemble high-level decision makers on the global business scene, including African Heads of State, Ministers, prominent CEOs operating globally, heads of private banks, sovereign wealth funds and private equity firms.
International speakers include: H.E. Paul Kagame, President of Rwanda; H.E. Armando Guebuza, President of Republic of Mozambique; H.E. Amama Mbabazi, Prime Minister of Uganda; Donald Kaberuka, President, African Development Bank Group; Stephen Schwarzman, Chairman & CEO, The Blackstone Group; Tony Fernandes, Group CEO, Air Asia. Emirati speakers include H.H. Sheikh Ahmed Bin Saeed Al Maktoum, Chairman and CEO, Emirates Airline and Group; H.E. Reem Al Hashimy, UAE Minister of State and Managing Director, Dubai Expo 2020; H.E. Sultan Al Mansoori, UAE Minister of Economy, H.E. Mohammed I. Al Shaibani, Executive Director and Chief Executive Officer of Investment Corporation of Dubai (ICD), H.E Sultan Ahmed Bin Sulayem, Chairman, DP and many more.