The United Arab Emirates has emerged as Africa’s leading investor, committing $110 billion to new business projects between 2019 and 2023, with $72 billion allocated to renewable energy initiatives.
The investment surge, outpacing traditional investors like the UK, France, and China, includes major infrastructure developments through Dubai-based DP World’s management of six African ports and Abu Dhabi Ports’ expansion into Guinea, Egypt, Congo, and Angola.
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The mining sector has seen notable activity with International Resource Holdings’ $1.1 billion acquisition of a 51% stake in Zambia’s Mopani Copper Mines.
The Dubai port operations extend across 20 African countries, while Emirati companies have diversified into agriculture, telecoms, and carbon credit markets across Zimbabwe, Liberia, Zambia, and Tanzania.
The implementation of announced projects faces various challenges, including delays in Masdar’s $2 billion solar power investment in Zambia due to financial constraints at the state utility ZESC0, and
concerns about gold trading practices, with Swissaid reporting $115.3 billion in unaccounted exports to Dubai between 2012 and 2022.
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