Dubai-Chamber-building

Dubai’s appetite for Africa grows ahead of trade mission to SA

By in Business, Economy, Finance on May 2, 2016

Johannesburg – The Dubai Chamber of Commerce and Industry (Dubai Chamber) announced its upcoming trade mission to strengthen bilateral ties and relations with South Africa and Mozambique, on 3rd and 5th May 2016, respectively. The trade mission forms part of the Africa Global Business Forum roadshow that will visit several major African cities this year.

The African continent is of particular interest to the business community in Dubai, and is an important trade focus for Dubai Chamber, which has representative offices in Ethiopia and Ghana and aims to expand its presence in other African markets. This trade mission will comprise around 20 of Dubai’s most prominent businessmen and decision makers from key sectors, in a bid to enhance the competitiveness of companies working in Dubai.

“Dubai Chamber was one of the first to recognise the potential of the African continent and initially explored investment opportunities in the Common Market for Eastern and Southern Africa (COMESA) region. Sub-Saharan Africa, due to its increased economic growth over the past years, has become an increasingly attractive opportunity. Research and analysis of business opportunities in this region has highlighted South Africa as a destination of choice for developing meaningful business partnerships,” explained H.E. Hamad Buamim, President and CEO of Dubai Chamber.

The South African Chamber of Commerce and Industry (SACCI) represents a diverse spectrum of business interests from around 50 regional chamber movements representing 20,000 businesses, through to 20 national associations and around 50 corporates – making SACCI the largest grouping of business interests in South Africa with an estimated footprint of around 80% of GDP by value. Its partnership with Dubai Chamber for the upcoming trade mission affirms the synergy that exists between the United Arab Emirates and South Africa.

“Given the business potential in the South African economy and specifically the tourism, mining, construction and infrastructure, ICT and electronics sectors, we are of the opinion that investors and businesses from Dubai will find the mission particularly relevant in today’s economic times,” added H.E. Buamim.

Since its inception in 2013, the African Global Business Forum (AGBF) launched by Dubai Chamber has provided the ideal platform for mutual investment between Africa and the world through Dubai. The Dubai Chamber trade mission in South Africa will enjoy the traction and support of the AGBF as key business decision makers attend a public sector roundtable on Tuesday, May 3rd, and a private sector focus group as well as chamber to chamber discussions on Wednesday, May 4th. Site visits around the city will also be conducted as part of the mission.

AGBF was launched by Dubai Chamber in 2013, with the inaugural AGBF held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The forum was initiated as a platform to engage key leaders from various governments and multinationals to support economic development and explore new investment opportunities in emerging markets across the globe. It is now one of the leading events for investment in Africa.