The UAE is determined to support trade and investment in the African continent, capitalising upon its strategic location, infrastructure and logistics offerings, and knowledge of the region.
Renewable energy and food security are key fields in which the UAE is committed to partnering with African nations to achieve sustainable development and promote the welfare of the larger region. Unlocking Africa's agricultural and energy potential will also lead to great strides in reducing global food insecurity and unleashing the continent's economic potential.
The UAE launched the Consortium for Africa in 2020 to focus on digitisation and youth as part of an optimistic vision for Africa's future. By leveraging public and private sector investment in Africa, we will devote significant resources to boost development throughout the continent.
Furthermore, the UAE has always focused on mapping out investment opportunities in Sub-Saharan Africa. According to an FDI report from the Dubai Chamber of Commerce and Investment, the UAE invested USD 11 billion of capital expenditure on the continent, ranking it second among countries investing in Sub-Saharan Africa.
Moreover, according to the Dubai Chamber of Commerce and Industry, non-oil trade with Africa has risen steadily by more than 700% since 2002. In the first half of 2019, the UAE invested USD 2.7 billion in sub-Saharan Africa, more than in any previous year, Dubai Chamber figures show.
The top five trade volumes by country include Angola (USD 2.9 billion), Tanzania (USD 2 billion), Kenya USD 1.9 billion), Nigeria (USD 1.5 billion), and Niger (USD 1.5 billion).
With over 160 Emirati companies operating in Sub-Saharan Africa, the UAE has invested USD 22.4 billion in the region. In addition, companies and entities such as DP World, Etisalat, Masdar, and the Abu Dhabi Fund for Development maintain an economic footprint in Africa.
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