The UAE is the second largest investor into Africa from the Middle East region, according to the Financial Times’ Foreign Direct Investment report.
UAE is the second top investing country in Africa by value of capital investment in 2016, accounting for $11bn of capex giving it a 12 percent market share, said the report.
UAE-led FDI rose a substantial 161 percent from 2015, when it pumped $4.2bn of capex into African projects, the report mentioned, quoting a study by the UN Economic Commission for Africa, titled “Investment Policies and Bilateral Investment Treaties (BITs): Implications for Regional Integration.”
The report was discussed at a panel session titled “Invest in Africa” at the Annual Investment Meeting which concluded in Dubai yesterday and explored how regional integration could support inclusive investment reforms at national, sub-regional and continental level.
The high-level panelists included Yofi Grant, Chief Executive Officer of Ghana Investment Promotion Centre; Stephen N. Karingi, Director Capacity Development Division, ?United Nations Economic Commission for Africa (UNECA); Aisha Abubakar, Minister of Trade and Industry of Nigeria; Harouna Kabore, Minister of Trade, Industry and Crafts of Burkina Faso; Seetanah Lutchmeenaraidoo, Minister of Foreign Affairs, Regional Integration and International Trade of Mauritius.
Source: UAE Ministry of Foreign Affairs