Business Insider Africa presents the 5 GCC countries that have invested the most money in Africa in the last decade.
In recent years, trade between the UAE and Africa has increased steadily.
This list is courtesy of a report titled “Africa Horizons: The Continent’s Unique Guide to Real Estate Investment Trends and Opportunities (2023/2024)” by Knight Frank LLP.
Africa often engages in international trade with nations such as China, the United States, and several other Western economies. However, the United Arab Emirates has entered the arena as one of the new economic players that have progressively begun to gain influence on the continent.
In recent years, trade between the UAE and Africa has increased steadily. According to the latest information provided by the Ministry of Foreign Trade of the United Arab Emirates, trade between the United Arab Emirates and six non-Arab African nations: Angola, Kenya, Nigeria, Ethiopia, South Africa and Tanzania, will exceed 8 billion dollars in 2020.
For example, Dubai's DP World, a pioneer in global supply chain solutions, seeks partnerships that boost employment, local infrastructure and the country's GDP. A notable example is Rwanda's new Kigali Road Transport Center for delivery trucks, which has reduced wait times for ground transportation from weeks to days. Additionally, it has reduced storage costs, positioning Kigali as a major logistics hub in East Africa and strengthening ties between local businesses and international markets.
Article source:BUSINESS INSIDER AFRICA