UAE raises stakes in competition for the lucrative African market
A container ship is docked at the port of Jebel Ali, operated by the Dubai-based giant ports operator DP World, in the southern outskirts of the Gulf emirate of Dubai, on June 18, 2020. PHOTO | AFP
The United Arab Emirates (UAE) has joined the bandwagon of global superpowers scrambling to gain commercial influence in Africa, targeting a share of the continent’s 1.2 billion people market for its goods.
The latest report by property consultant firm Knight Frank shows UAE is the biggest source of FDI for Africa among the Gulf Cooperation Council (GCC) states and remains focused on the continent’s high-growth sectors such as infrastructure, energy, transport, logistics, and technology.
