Wealth Management by

Dubai Chamber intensifies its preparations for Africa Global

August 11, 2014 1:11 pm

The Dubai Chamber of Commerce and Industry has intensified the momentum of its preparations for the 2nd Africa Global Business Forum (AGBF 2014)being held on October 1 and 2 at Atlantis The Palm.

Under the patronage of H.H. Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice-President and Prime Minister and Ruler of Dubai, the forum is organised by Dubai Chamber under the theme New Realities – New Connections.

It will host an exclusive audience of 500 top government ministers, officials and corporate decision-makers, heads of prestigious companies, directors of private banks, wealth management companies and sovereign funds, Emirati and global business leaders and leading officials of investment promotion agencies in Africa.

H.E. Hamad Buamim, President & CEO, Dubai Chamber, stated that in the history of Dubai Chamber this 2nd Africa Global Business Forum will witness the largest participation by state heads and business leaders due to the forum’s important agenda which will clearly help establish strategic partnerships and a strong bilateral relationship between the business communities in the GCC and the African continent.

The confirmed speakers include President H.E. Armando Guebuza of Mozambique, President H.E. Paul Kagame of Rwanda, and H.E. Amama Mbabazi, Prime Minister of Uganda as well as Aliko Dangote, Africa’s richest man. The Emirati speakers will be led by H.H. Sheikh Ahmed Bin Saeed Al Maktoum, Chairman and Chief Executive Officer, Emirates Airline and Group, H.E. Reem Al Hashimy, UAE Minister of State and Managing Director, Dubai Expo 2020, H.E. Sultan Al Mansouri, UAE Minister of Economy and H.E. Mohammed I. Al Shaibani, Executive Director and CEO, Investment Corporation of Dubai (ICD).

Other prominent speakers confirmed for the forum are Dr. Donald Kaberuka, President of African Development Bank Group, Stephen Schwarzman, Chairman and CEO, Blackstone Group, Tony Fernandes, Group Chief Executive Officer, Air Asia, and H.E. Sultan Ahmed Bin Sulayem, Chairman, DP World.

The forum will focus on the opportunities and challenges of collaborating on infrastructure, how to overcome barriers to intra-regional trade, how Africa can benefit from GCC experience in theseareas, and how the GCC’s location can play an important part in investment and business with African countries.

According to Dubai Chamber statistics, the trade sector has the highest percentage of African companies operating in Dubai while the proportion of the important sectors include Trade (60%); Construction (14.8%); Logistics (8.2%); Real Estate (8.1%); Manufacturing (2.5%); Agriculture (0.2%) and Tourism and hospitality (1%).

This year’s content is developed by The Economist Events and attendees will be able to hear case studies on operating in Africa from Samsung and Blackstone.

According to World Bank estimates, the African continent is in need of USD 93 billion annually for its infrastructure investments leading to the year 2020 while only one-third of this amount which is USD 31 billion per annum is currently available with the African governments.