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October 01, 2014

Top 5 investment opportunities for GCC nations in Africa

Top 5 investment opportunities for GCC nations in Africa

Day one of the Africa Global Business Forum 2014, taking place until October 2, saw key global political and business leaders discussing Africa’s growth potential.

Reporting from the forum, AMEinfo highlights key opportunities that Middle Eastern investors’ businesses should look out for when considering African states as their next investment destination:

Infrastructure:
Gulf countries are already major infrastructure investors in Africa, contributing more than $30 billion to the continent’s growth over the past decade, or approximately ten per cent overall in foreign exchange inflows. Companies and governments can find huge investment opportunities in developing Africa’s road, rail and port capabilities.

Aviation:
Africa’s huge market and growing population are massive opportunities for the GCC’s aviation giants. Given their robust expansion strategies, geographical proximity and the reality that traditional European airlines haven’t made a significant impact on the market, GCC airlines have an immense opportunity to connect Africa with the rest of the world.

Tourism:
Speaking at the opening of the AGBF 2014, president and CEO of Dubai Chamber of Commerce and Industry, Hamad Baumim, notes that the future of Africa lies in its untold opportunities. Africa’s vast natural beauty and landscape, which has been stained by socio-political instabilities, relates precisely to this. The chairman at DP World, Sultan Ahmed Bin Sulayem, adds: "Dubai can provide extensive experience to its African partners in developing a strong tourism industry."

Telecom:
Telecommunications are the prime example of how economic relations between the UAE and Africa have flourished lately. With a market of more than one billion people, president of Ghana, John Mahama, says: "While the telecom sector has already exploded, the potential for growth is still enormous." In recent years UAE’s telecom giant Etisalat has been a key driver in developing its business in the continent, as well as acquiring stakes in key providers from Libya, Egypt, Sudan, Nigeria, Tanzania, as well as a 50 per cent stake in Atlantique Telecom/Moov, which operates in Ivory Coast, Benin, Burkina Faso, Togo, Niger, CAR and Gabon.

Power:
Despite its vast natural resources, nearly 70 per cent of Africa’s population lives without regular electricity supply. Steven Schwarzman, CEO of Blackstone, one of the world’s largest private equity firms, says power, according to him, would be the next boom in Africa, considering its desperate need. Blackstone itself is committed to the $900 million construction of Uganda’s Bujagali Hydroelectric Dam. It should be noted that the continent, particularly in the West, is oil rich and developing its refinery and manufacturing capabilities will be crucial in the coming years.


Image Credit: www.freeimages.com



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Comments (2)
HassanNovember 21, 2015 | 15:11
the information and highlighted areas for the gulf investors genuine. Is there any other mechanism by which we can get more information on the subject. We have clients for African market investment.
HassanNovember 21, 2015 | 15:11
the information and highlighted areas for the gulf investors genuine. Is there any other mechanism by which we can get more information on the subject. We have clients for African market investment. Dubai Offshore Company formation


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