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USD 500 million commitment in UAE's Consortium for Africa to support youth, digitization, and business growth

The Consortium for Africa is the new approach of UAE to uplift the African continent. The initiative has unveiled in a summit with a committed investment of USD 500 million to help fulfill the vision of a turbocharged and connected Africa, driven by youth with a mission of nurturing and making the full use of youth powers in Africa.

The consortium for Africa is aligned with the UAE’s government and private sectors' commitment to Africa. Combining their ambition for progress and resource to support it, the consortium is a complete entity to help develop and initiate investment to support the new future vision for Africa and with Africans.

One of the main focuses would be given on digitization so that young and, talented population embraces the opportunities of the future without being overwhelmed.

The UAE has been Africa’s active partner for 49 years in history, investing billions of dollars in various projects such as roads, ports, bridges, schools, clinics, and others. In 2016 UAE became the second-largest investor in Africa, investing in tons of projects making Africa sustainable and ready to compete with other growing economies.

The consortium for Africa would support Africa in a consolidated, adaptive, and impactful way that facilitates maximum growth and benefits to the African countries. With the strong support of UAE, the African continent is surely making progress and creating the environment to do businesses for domestic as well as foreign investors.

Source : Bizmart
Posted on :3/3/2020