Gulf countries are expanding their presence in Africa, exploring sectors beyond the traditional ones such as mining, logistics and agriculture, with the aim of strengthening their commercial and diplomatic ties with the continent.
The UAE is promoting a new economic zone and digital incubator in Ghana, while Qatari companies are negotiating potential construction and infrastructure projects in Tanzania. According to the African Export-Import Bank, Gulf investments in Africa exceeded $100 billion between 2012 and 2022, a figure that has continued to rise, putting the UAE ahead of powers such as China, France and the UK in terms of investment volume.
Despite this diversification, traditional sectors continue to attract capital. Emirates Global Aluminium is planning a major investment in a bauxite deposit in Ghana, and Abu Dhabi-based International Resources Holding has acquired a majority stake in a tin producer in the Democratic Republic of Congo for $367 million.
Source: semafor.com