Dangote hails Africa, Dubai trade relations

Aliko Dangote

Africa’s richest man, Aliko Dangote of Nigeria is reportedly in financial log-jam

from OKORO CHINEDU in Lagos, Nigeria
LAGOS – PROMINENT local entrepreneur, Aliko Dangote, said to be Africa’s richest man, has praised the United Arab Emirates’s leadership’s vision of creating an environment for doing business with the continent.

Presenting at the Africa Global Business Forum in Dubai, where more than 700 government officials and business leaders from across the Middle East and Africa have converged, he urged businesses to help drive forward this relationship.

“Investment from the private sector is essential for African growth, as the continent’s governments have been incapable of managing these large-scale projects, and should instead focus their efforts on the education and health sectors.

“Africa offers huge potential for companies looking to invest, as a large market with almost $1.4 trillion in consumer spending,” Dangote.

Dubai Chamber of Commerce and Industry organised the Africa Global Business Forum.

Hamad Buamim, President and CEO of Dubai Chamber of Commerce and Industry, believes that dialogue was the first step to opening new doors and creating exceptional relationships.

He said Dubai Chamber was committed to being a key partner and active contributor in promoting sustainable development across the continent.

Buamim said Dubai’s total non-oil trade with Africa reached a value of AED 60 billion (or about US$16.3 billion), according to Dubai Customs.

The UAE is the main trading partner of Africa, with approximately 80 percent of the UAE’s imports from Africa being primary products, such as food produce and beverages.

In the last two months, Dubai’s two main carriers, Emirates and flydubai, have increased their connections from 31 passenger and cargo destinations in Africa in July to 38 different African destinations by the end of September.

– CAJ News






Short URL: http://cajnewsafrica.com/?p=1845

Posted by on Oct 3 2014. Filed under Featured, Finance, Finance & Banking. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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