Key benefits of doing businesses in African markets highlighted

Presentations familiarise UAE companies with business climate in promising African countries, as well as new investment opportunities and existing challenges

The Dubai Chamber of Commerce and Industry’s representative offices in Africa recently organised a webinar in cooperation with Oxford Business Group and the Pan African Chamber of Commerce and Industry, which covered some of the key benefits of doing business in Africa.

The virtual event, attended by 163 participants from the UAE and Africa, aimed to familiarise UAE companies with the competitive advantages offered by several promising African markets, the evolving business climate on the continent, as well as new investment opportunities and existing challenges to foreign investors.

Addressing participants, Omar Khan, Director of International Offices at Dubai Chamber, highlighted the importance of Africa as a preferred market for Dubai, and pointed out that many UAE-based companies have established their presence on the continent.

Evidence of the expanding economic links between Dubai and Africa can be found in the reflected in recent trade trends, he noted. In H1 2020, Dubai’s non-oil trade with Africa reached $22.2 billion an overall 1.1 per cent y-o-y growth rate, while Dubai accounted on average for 85 per cent of UAE total non-oil trade with Africa, he revealed. He added that Dubai’s trade with Africa in the first half of 2020 returned to pre-COVID-19 levels, while Dubai Chamber members saw 6.5 per cent growth in exports and re-exports of to the continent in February 2021.