{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Business opportunities expanding for Dubai in Africa' data-url='/boclips/videos/6878b7cbefa60ff713f2333f' data-video-url='/boclips/videos/6878b7cbefa60ff713f2333f' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nBusiness opportunities expanding for Dubai in Africa\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca href=\"/search?publisher_ids%5B%5D=\"\u003e/search?publisher_ids%5B%5D=\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eIn this month's Business Line programme, we look at the Global Business Forum on Africa. In its fifth edition, the two-day event in Dubai explored the challenges and opportunities associated with doing business in Africa with many...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eIn this month's Business Line programme, we look at the Global Business Forum on Africa. \u003cbr\u003e\u003cbr\u003eIn its fifth edition, the two-day event in Dubai explored the challenges and opportunities associated with doing business in Africa with many companies looking to the continent as the next big investment frontier. \u003cbr\u003e\u003cbr\u003eThe rise in technology and a changing political landscape appears to have boosted confidence in Africa on the whole, be it reformist leaders such as Ethiopia's Prime Minister Abiy Ahmed, who received this year's Nobel Peace Prize , or the signing of the African Continental Free Trade Agreement (AfCFTA) almost two years ago, which is set to create one of the world's largest single markets for goods and services. \u003cbr\u003e\u003cbr\u003eLinking three regions together \u003cbr\u003e\u003cbr\u003eThe UAE is one of several countries looking to strengthen its ties with the continent. This could be music to the ears of some African leaders who already view Dubai as a blueprint for how to develop their own economies. \u003cbr\u003e\u003cbr\u003eThe UAE is reviving one of the world's most ancient trade routes having established itself not only as a key gateway into Africa but also as the continent's second-largest foreign investor after China. \u003cbr\u003e\u003cbr\u003e\"If you look at \" One Belt One Road \", there is a big push for the UAE government, the Chinese government, and African governments to actually link those three regions together,\" explained Isaac Kwaku Fokuo Jr, Founder \u0026 Principal, Botho Emerging Market Group . \u003cbr\u003e\u003cbr\u003e\u003cbr\u003eUAE players active in Africa \u003cbr\u003e\u003cbr\u003eIn 2018, non-oil exports and re-exports from the UAE into Africa reached around €18 billion. Many of these would've traveled via DP World , which operates in seven African countries. Africa represents 10% of the port giant's global revenue and it's growing. But there are other UAE players active on the continent. \u003cbr\u003e\u003cbr\u003e\"Al Ghurair Group , their printing division has a really massive African business, from voters cards to passports, to even currency that they actually print in Dubai for Africa,\" said William Stenhouse, Founder, UAE-Africa Networking Group . \u003cbr\u003e\u003cbr\u003e\u003cbr\u003eStenhouse is also Vice President, Agility Africa which is another logistical business tapping into Dubai's links with Africa. \u003cbr\u003e\u003cbr\u003e\"When we look at the major markets that Agility is expanding into, Emirates (airlines) goes to all these destinations or there are good connections,\" said Stenhouse. \u003cbr\u003e\u003cbr\u003e\u003cbr\u003eChallenges \u003cbr\u003e\u003cbr\u003eBut there are challenges when dealing with any emerging market and many companies need guidance on how to best conduct their business on the ground. \u003cbr\u003e\u003cbr\u003e\"I think once you're able to get that right as a business is when you're able to actually properly succeed in Africa,\" explained Tina Blazquez-Lopez, of Counsel, Bryan Cave Leighton Paisner . \u003cbr\u003e\u003cbr\u003e\u003cbr\u003eDubai is attractive for business \u003cbr\u003e\u003cbr\u003eAfrican companies are attracted to Dubai because of its expertise in areas such as infrastructure and construction. There are some 21,000 of them operating in the Emirate, up by almost a quarter in just two yea0rs. Key incentives include tax breaks as well as access to visas and Islamic finance. \u003cbr\u003e\u003cbr\u003e\"As big as 50% require Islamic and Sharia compliant financing documents. We've seen it in the technological space as well as in other areas and sometimes that involves a more innovative approach,\" added Blazquez-Lopez. \u003cbr\u003e\u003cbr\u003eWhile the UAE wants to trade with Africa on the whole, there are also opportunities in its own back yard. \u003cbr\u003e\u003cbr\u003e\"Imagine a zone of a common market between countries on the Red Sea on the Africa side and the Gulf Corporation Council's (GCC) side with leadership from the UAE. For instance, currently, you have a few flashpoints in terms of geopolitical issues. When those issues are resolved, I think you're going to see a huge opportunity and tremendous growth in the Red Sea region alone,\" added Isaac Kwaku Fokuo. \u003cbr\u003e\u003cbr\u003e\u003cbr\u003eThis is something that could further unlock the UAE's untapped export potential in Africa. \u003cbr\u003e\u003cbr\u003eWhy is Africa so important to the UAE's future? \u003cbr\u003e\u003cbr\u003eEuronews spoke to Hamad Buamim, President and CEO, Dubai Chamber of Commerce and Industry who was responsible for the Global Business Forum on Africa and he explained how Dubai is looking at different ways of working with businesses on the continent. \u003cbr\u003e\u003cbr\u003e\"When you look at the trade with the world, maybe in the past five years, it has been either flat or negative with many parts. But with Africa, it's continually growing, almost doubled.\" \u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\"What we've been doing more (in Dubai) is really to partner with somebody like Carrefour and instead of selling to Africa, establish in big markets like Nairobi or even Tanzania. They're looking with us into Ethiopia, 100 million population, ten times what we have here in UAE. This is something we want to do more with.\" \u003cbr\u003e\u003cbr\u003eBuamim explained that any challenges could be worked out together. \"Financing is not easy but we believe if they (the companies) package it in the right way, if they get the right advice, the right business model, they (can) come here to Dubai (and) they'll be able to have a network of venture capitalists\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" aria-label=\" out of 5 stars\" role=\"img\"\u003e\u003ci class=\"fa-regular fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-regular fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-regular fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-regular fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-regular fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003c/span\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt class=\"educator-rating-title\"\u003eEducator Rating\u003c/dt\u003e\u003cdd\u003e\u003cdiv class=\"educator-rating-details\" data-path=\"/educator_ratings/rrp_data?resourceable_id=93097963\u0026amp;resourceable_type=Boclips%3A%3AVideoMetadata\"\u003e\u003cspan class=\"not-yet-rated\"\u003eNot yet Rated\u003c/span\u003e\u003c/div\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eGrade\u003c/dt\u003e\u003cdd title=\"Grade\"\u003eAll Grades\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eSource:\u003c/dt\u003e\n\u003cdiv class='preview-source' data-animation='true' data-boundary='.rp-info' data-container='.rp-resource-details' data-html='false' data-title='The latest news and analysis on the economy, business, and markets from a European perspective' data-trigger='hover focus'\u003e\n\u003cspan\u003eEuronews Business\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-circle-info channel-tooltip-icon' id='channel-tooltip'\u003e\u003c/i\u003e\n\u003c/div\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003ci aria-hidden='true' class='fai fa-solid fa-language'\u003e\u003c/i\u003e\n\u003cdt\u003eLanguage\u003c/dt\u003e\u003cdd\u003eEnglish\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eUsage Permissions\u003c/dt\u003e\u003cdd\u003eFine Print: Educational Use\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='additional-materials-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='additional-materials-heading'\u003eAdditional Materials\u003c/h2\u003e\n\u003cdiv class='additional-material'\u003e\n\u003ci aria-hidden='true' class='fai fa-solid fa-lock'\u003e\u003c/i\u003e\n\u003ca class=\"text-muted\" title=\"Video Transcript\" data-html=\"true\" data-placement=\"bottom\" data-trigger=\"click\" data-content=\"\u003cdiv class=\u0026quot;text-center py-2\u0026quot;\u003e\u003ca class=\u0026quot;bold\u0026quot; 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