According to a UAE official who spoke to the Financial Times, the country has invested $110 billion in Africa. Regarding the country's presence in Africa, an associate professor at Georgetown University in the US claims that the UAE is now "going toe to toe with Beijing." The Emirates has continuously ranked among the top four investors on the continent over the last ten years, he says, even though many of these investments will never come to fruition. More risk-averse investors have shunned African projects, but UAE companies have embraced them. Despite "challenges when it comes to policies and politics," Hamad Buamim, chair of the Dubai Multi Commodities Centre, the primary trading hub in Dubai, asserts that Africa has a lot "to offer in terms of commodities and minerals.".... Read more »
Posted on : 10/22/2024