Africa is rapidly becoming a key market for the United Arab Emirates (UAE), which stands as the largest investor on the continent among Gulf Cooperation Council (GCC) states. This significance was highlighted at the inaugural Africa Debate-UAE, organized by Invest Africa, which took place at the Address Sky View hotel in Dubai on October 31. The event saw over 400 industry experts, policymakers, and business leaders converge to explore opportunities across logistics, supply chain optimization, infrastructure development, and energy transition.
Among the prominent speakers were UAE Minister of Economy Abdulla Bin Touq Al Marri, UAE Minister of State Sheikh Shakhboot Bin Nahyan Al Nahyan, Zimbabwe’s Minister of Finance and Economic Development Mthuli Ncube, and South Africa’s Minister of Public Works and Infrastructure Dean Macpherson. Their collective insights underscored the growing investment interest between the UAE and various African nations.
Dean Macpherson, reflecting on his bilateral meetings with the UAE ministers, noted, “They are young chaps like myself committed to making their countriesbetter. And we’re already talking on WhatsApp. South Africa and the UAE share a very important historical relationship.” With South Africa set to host Africa’s first-ever G20 summit in 2025, he mentioned the UAE’s invitation as “special guests.”
“There’s a lot we can learn. And that's the commitment the ministers havegiven me,” added Macpherson, who had intended to visit infrastructure projects, including Dubai's ports. He praised the UAE for its infrastructure acumen, stating, “The UAE are really kings of infrastructure; they have understood how to rapidly scale upan economy through infrastructure-led growth, which iscrucial.”
Despite Africa facing its share of challenges, the continent is witnessing many nations on positive economic trajectories. Public debt is stabilizing, inflation is easing, and growth rates are increasing. This favorable economic climate has piqued renewed investor interest from the UAE and the wider GCC region. Karen Taylor, Executive Chair of Invest Africa, highlighted this trend, noting, “in the past yearalone, Gulf-based firms have announced over 70 major projects in Africa, withan estimated value exceeding $50 billion.”
Zimbabwe’s Ncube also spoke about the importance of the summit for showcasing his country's investment potential. He emphasized, “My presence here is very significant, basically, to share with investorsall the wonderful opportunitiesthat Zimbabwe offers…” He elaborated on the fruitful existing collaborations between the UAE and Zimbabwe across various sectors.
Following years of success with its London-based summit, Invest Africa, founded in 1956 to promote pan-African trade and investment, brought its flagship conference to Dubai for the first time. Taylor remarked, “The overwhelming interest we’ve received from investors, business leaders, and policymakers is atestament to the power and promise of UAE-Africa collaboration.”
On another front, His Highness Sheikh Mohamed Bin Zayed Al Nahyan, the UAE President, recently conferred the Zayed the Second Medal on Her Excellency Hindou Oumarou Ibrahim, the President of the Indigenous Women and Peoples Association of Chad, recognizing her contributions to the success of the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28), which was hosted by the UAE last year.
H.E. Rashid Saeed Al Shamsi, the UAE Ambassador to Chad, presented the medal to Oumarou Ibrahim, who expressed her deep gratitude for the recognition. She applauded the historic UAE Consensus reached at COP28, highlighting its significance as a guiding framework for global climate action and sustainability efforts.
Ambassador Al Shamsi responded by commending Ibrahim’s efforts and Chad’s involvement at COP28, emphasizing the importance of cooperation to safeguard both humanity and the planet. This event underlines the UAE's commitment to fostering international partnerships, especially with African nations, within the broader narrative of climate change and sustainable development.
With these developments, the UAE is positioning itself as not just an economic partner but also as a pivotal player on the international stage, engaging deeply with African nations to nurture shared growth and sustainability initiatives. The blend of investment opportunities and proactive diplomatic efforts marks the beginning of what could be a transformative decade for UAE-Africa relations.
