AFRICA IS A POTENTAL MARKET AND ENJOYS A GLOBAL BUSINESS TIES WITH UAE
There have been so much improvement in the economic, political, social and security domain in African countries wish has greatly attracted investors in to the region .The UAE being one of the countries which is interested in African market and according to Gulf news (Ministry of commerce UAE has acknowledge the fact that a lot of companies in the UAE are expanding their businesses in Africa).
Some African communities in UAE and their response about business ties with UAE .
◆Rwanda Community UAE:
According to the Rwanda community, Business between the UAE and their country has increase and very beneficial in the recent years which can be attested with the frequent visit of Sheik Mohammed (Ruler of Dubai) to Rwanda. A lot of companies have extended their businesses to Rwanda and tax on importation of goods to Rwanda are relatively very low and with a very friendly environment and governmental policies to encourage investors.
◆Nigeria community UAE：
Nigeria being the most populated country in Africa had similar response to Rwanda community .Most Nigerian business men visit UAE and China mostly to make purchase or established business links .In recent time sending goods to Nigeria from UAE is relatively cheap and easy also with a direct flight from Dubai to Nigeria by Emirates Airline and other airlines makes the flight very competitive and affordable.
◆Kenya community in UAE :
Kenya is very close to the UAE and they enjoy a lot of business ties with UAE.There have been a tremendous contribution in the economic development of Kenya by UAE through financial support and economic policies. Kenya also send foods items and a lot of raw materials such as coffee beans to be process in UAE .Kenya is known for attractive zoos, friendly environment and dynamic people .We have a lot of Kenyans in the UAE some who came for business ,some for tourism and others to look for jobs .
The Global Business Forum (GBF) which was held in UAE in 2019 encourages companies to globalise their operations and Africa was one of the key region of target .The have been growing ties between Africa and UAE which has been rapidly expanding, supported by several important developments such as improved connectivity and business confidence, economic reforms and regional integration.
The expansion of direct flights between the UAE and major African cities, the signing of strategic cooperation agreements and the easing of visa restrictions are also important factors accelerating bilateral business exchange.
◆Ghana Community in UAE:
Ghana is one of the fastest growing countries in Africa .With attractive economic policies and free import tax policies of some specific goods in to the country, Ghana in recent years has been a central of attraction to most investor who wants to expand their business in Africa. UAE is one of Africa’s top sources of foreign investment and the country is supporting the continent’s economic development in a big way by funding infrastructure projects and filling market gaps in fast-growing sectors of Africa’s economy, from transportation to power generation and telecommunications.
In addition, the recent launch of the African Continental Free Trade Area (AFCFTA) will likely open up African economies further and boost UAE-African trade and investment flows. At a time of growing challenges for free trade, we see this as a positive development that can potentially lead to a new era of economic cooperation and integration.
Africa still have a lot of un-tap resources couple with the youthful and increasing population with the eagerness among Africans to improve in their standard of living, infrastructure and technology ,Africa is a young market and the future potential market for smart investors .
CONTACT US FOR MORE DETAILS ABOUT AFRICA MARKET IF YOU ARE INTERESTED IN EXPANDING YOUR BUSINESS TO AFRICA.