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UAE unveils new investment and development initiative to help build a connected and ‘turbocharged’ new Africa driven by youth
‘Consortium for Africa’, will combine ambition and resources to support progress, USD 500m investment to focus on youth and digitization, African Union hears how Consortium demonstrates UAE’s relentless commitment to the continent

The UAE’S Consortium for Africa, a new initiative with a committed investment of USD 500 million to support fulfil the vision of a ‘turbocharged’ and connected new Africa, pushed by its youth, has been unveiled at the African Union (AU).

The UAE Minister for International Cooperation and Director General of Expo 2020 Dubai, Her Excellency Reem Al Hashimy, said to members that the Consortium would be a long-term builder of human capital on the continent with two instant priorities: digitisation and youth.

She stated the Consortium would align the UAE government and its private sector’s commitment to Africa, combining ambition for progress, and resource to assist it, into one focused entity to assist development and investment, contributing to an optimistic new future vision for Africa and with Africans.

Her Excellency Reem Al Hashimy explained: “More than simply donor or a issuer of concessionary loans, the UAE understands that actual value lies in the long-term constructing of human capital. And we are dedicated to assisting deliver the equipment in which start-ups can thrive, entrepreneurs can lead, and young people can look ahead with optimism to a future that is firmly in their control.”

The center of attention on digitisation and youth would make sure that “our younger and talented populations are not overwhelmed by, but embrace, the opportunities of the future”, Her Excellency added.

“We have listened closely to what you have told us, as a continent represented by the African Union, and as nations that make up its member states. And we have heard your call to the UAE: to draw on lessons learned via our own development, and to aim the UAE’s investment into Africa’s digital economy,” Her Excellency continued.

The UAE has been an energetic partner on the continent all through its 49-year history, investing billions throughout that time and by 2016 was the second biggest investor country in Africa, with support for a extensive range of projects which include roads, bridges and ports, schools, clinics and hospitals.

The Consortium for Africa would make sure a more consolidated, adaptive and impactful aid in the future, stated Her Excellency, who was the first UAE Minister to tackle the AU with a speech to its Executive Council at its headquarters.

Her Excellency also heralded the first participation of the African Union at a World Expo, showcasing the continent’s rich history and many achievements within its own pavilion. For the first time in World Expo’s 169-year history, every single participating nation – a record-breaking 192 – will be represented with an individual pavilion of its own at the World’s Greatest Showcase of human brilliance and achievement.

Some 25 million visits are anticipated at the first World Expo in the Middle East, Africa and South Asian region (MEASA). Located in Expo 2020’s Opportunity District, the African Union Pavilion will explore the speeches of Africa’s excellent leaders, illustrating just how much the organization has carried out since its inception as the Organization of African Unity in 1963.

Millions of visitors will step in to a colorful, without boundaries space, where they will discover Africa’s full-size potential and optimism for the future, mirrored in its Agenda 2063 aspirations that address agriculture, transport, science and technology, and health.

For six months from 20 October 2020 until 10 April 2021, the UAE will host the world’s biggest meeting of minds, welcoming innovative critical thinkers to a powerful platform that will form our future and disclose a raft of possibilities to be explored by – and in – African countries.

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