The Fourth Global Business Forum on Africa, organised by the Dubai Chamber Commerce and Industry, called for increasing investment flows between the UAE and Africa in several key sectors, including trade, financial services, logistics, and tourism

A survey conducted during the two-day forum exposed that 48% of delegates thought about trade to be one of the most encouraging sector for financial investment, followed by monetary services (24%), and 14% for both the logistics and tourist sectors.
Individuals identified the above fields as key areas where Dubai can provide its experience and investment to improve African economies

Opportunities and challenges

Delegates identified locations of difficulties hindering investment in Africa, specifically facilities, law, and innovation. They called for establishing investor-friendly policies and developing a business setting that could cultivate innovation and support entrepreneurship. Participants highlighted the need for faster financial integration amongst African countries, which they claim can potentially transform the continent right into a global financial power.

Participants shared the sight that trade and investment relationships between the UAE and Africa should be broadened and strengthened in order for both business communities to benefit from promising investment opportunities that are opening up on the continent.

Additionally, they underscored Dubai's role as a global portal to Africa, leading the way for businesses and capitalists from around the world to get in African markets. They additionally lauded the Global Business Forum on Africa 2017's payment to bilateral relationships as the event offers an ideal platform for government and business leaders in Africa and the Middle East to discuss participation and concrete business potential customers.

High-level participation

Under the patronage of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, the 2017 version of the Forum was held under the theme "Next generation Africa". An overall of 1,500 delegates participated in the top-level forum, while 375 bilateral business meetings were performed on the sidelines of the occasion.

Three agreements were authorized in between the UAE and African entities. The UAE's Ministry of Financing inked two agreements with Rwanda: one to prevent double taxes on earnings, and an additional to protect and urge investment between the two countries. Meanwhile, the 3rd contract was reached which intended to promote and secure shared investments between the UAE and Uganda.

" The 4th Global Business Forum on Africa flaunted a remarkably prominent engagement, including African heads of state, priests and influential decision-makers, which added relevance to the forum as a premier platform focusing on the financial overview for African markets," said H.E. Hamad Buamim, President and Chief Executive Officer of Dubai Chamber.

H.E. Buamim noted that the forum enhanced Dubai's placement as a global entrance to the African continent, while it likewise showcased the numerous advantages that the emirate could offer African business as a preferred trade and financial investment hub.

He unveiled Dubai Chamber's strategies to open up two extra representative workplaces in Africa over the following two years, bringing its total variety of African offices to 6. Additionally, H.E. Buamim revealed that the Chamber has invested AED 100 million to elevate recognition of chances and financial potential in Africa, including that it will intend to increase this financial investment in the years to coming.

Rise of Africas entrepreneurs

Several sessions at the forum underlined the essential role of business owners in driving Africa's following stage of economic development. Speakers and panellists asked for new devices and policies to assist entrepreneurs flourish and expand. Attendees identified legislation as an additional key location where initiatives can be boosted to better support start-ups and business development.

Participants urged governments to quicken advanced facilities tasks to deal with current and future financial task on the continent. They encouraged innovation and imagination in the economic and financial investment field as a way to accelerate current economic growth, and guarantee long-term success for entrepreneurs.

The 4th Global Business Forum on Africa occurred on November 1st and 2nd, 2017 at Dubai's Madinat Jumeirah. The forum was held as part of Dubai Chamber's Global Business Forum series, which concentrates on Africa, the Commonwealth of Independent States (CIS) and Latin America.