Business opportunities and investments in emerging markets, especially in Africa will dominate Mahabiz 2024 due to which Nigeria’s Foreign Investment Network (FIN) and Indian businessmen have attracted investors from Asia, the United Arab Emirate (UAE).
MahaBiz in India, is a platform for innovation, investment, and dialogue, creating pathways for a prosperous future and investors who take the time to understand the unique characteristics of the economies of the countries involved, assess the associated risks, and implement effective strategies stand to reap the rewards of being early movers in this exciting realm of global investment.
African economy is growing and the offer for growth and diversification are the attraction for investors from Asia, and the Middle East.
The Chairman of Foreign Investment Network (FIN) Olayinka Fayomi on Monday, said the collaboration marked a significant moment, bringing together the diverse and dynamic business landscapes of Africa, Asia, and the Middle East under one roof.
At the pre-event for MahaBiz 2024, she noted the gathering will foster connections, exchange ideas, and explore opportunities that transcend borders as she welcomed entrepreneurs and other investment partners from Africa, the UAE, and Asia.
The main event themed: “Catalyst In Business, Investment & Economic Growth,” featuring discussions around the vast potential businesses within emerging markets, roles of investors in the global investment arena, pathways to economic growth, development and the inherent opportunities across the globe will hold on 24th and 25th February, 2024 at the Metropolitan Hotel, Dubai and Atlantis the Palm, Dubai. New investment opportunities are expected to be discussed and agreement signed.
Data from UAE’s Ministry of Foreign Trade shows overall trade with six non-Arab African countries alone (Angola, Kenya, Nigeria, Ethiopia, South Africa and Tanzania) reached a whopping US$ 8billion in 2020 while Dubai’s non-oil trade with Africa has surged by over 71 per cent to exceed $50 billion in 2020.
Dubai’s trade with Africa is projected to see an annual increase of up to 10 per cent over the next five years following the implementation of AfCFTA, according to the Dubai Chamber.
In 2022, trade between Asia and Africa reached $267 billion, with the UAE acting as a significant trade hub, and Dubai’s trade with Africa is worth $45 billion yearly.
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