Dubai World, which intends to invest over USD 1.5 billion in Africa over the next five years, has invited private investors to follow in its footsteps and pursue economic possibilities on the continent.

A top Dubai World executive bemoaned the region's failure to realise its economic potential despite its wealth of resources, saying, "we believe in the future of Africa."

DP World's CEO, who has port projects in Djibouti, Senegal, and Mozambique, said his business is seeking for container facilities in other areas, including South Africa.

With global oil and commodity prices rising, resource-rich Africa is garnering global investor attention.

Sharaf stated that Dubai World is dedicated to making long-term investments in infrastructure, real estate, and tourism in Africa, and he advised potential investors not to seek short-term returns.

'We believe in prudent investing.' It should not be to earn fast money,' Sharaf said, adding that in the past, foreign investors attempted to exploit Africa's abundant natural riches while contributing nothing to local infrastructure and employment development.

Sharaf recently stated at the Africa Investment and Finance Conference in London that DP World and its Dubai World affiliates are involved in 30 projects worth billions of dollars in African areas such as tourism and infrastructure.

'What African nations need are partners that want to tap into all of their resources, including human resources, and profit from the overall economic growth - the sort of growth that benefits everyone,' he said in a statement.

Dubai has spent about USD 1.1 billion in Djibouti, and its firms are active in customs and industrial zones management.

According to Sharaf, infrastructure development is a big concern for Africa since inefficient facilities raise the cost of conducting business on the continent.