Analysis Trade Aid turns to trade as UAE plans Ethiopia investments The UAE is planning to increase its investments in Ethiopia as the economic relationship between the two countries evolves from aid to trade. More than a dozen memoranda of understanding were signed between public and private entities in Addis Ababa during an official visit to Ethiopia by UAE President Sheikh Mohamed bin Zayed al Nahyan […] August 21, 2023
Logistics DP World reveals expansion plans at critical ports Port operator DP World has announced plans to expand capacity across critical global markets as it responds to growing demand. The Dubai-based company expects to add 3 million 20-foot equivalent units (TEUs) of new container handling capacity by the end of the year. DP World – which manages 9 percent of the world’s handling capacity, […] August 16, 2023
Analysis Food & Drink North Africa to the rescue as Europe’s olive oil dries up A caesar salad may be the ideal light meal on a summer’s day, but you might have noticed it is weighing heavier on your wallet. That is because the price of olive oil is at an all-time high. Prices have jumped by nearly 80 percent in just one year, according to data from YCharts. European […] July 28, 2023
Banking & Finance Saudi Arabia to give Tunisia $500m as soft loan and grant Saudi Arabia has agreed to provide Tunisia with a $500 million package of financial assistance as the country faces a mounting financial crisis. The Gulf state will give the North African country $400 million as a soft loan and $100 million as a grant, the Saudi Press Agency reported on Thursday. The agreement was signed […] July 21, 2023
Opinion Agriculture Cop28 must advance urban agriculture to cut emissions The summit in Dubai should advance agricultural technology to mitigate climate change July 20, 2023
Economy S&P Global sees positive signs in Nigeria and Kenya Nigeria and Kenya have both had positive economic policy developments in the last couple of months, one of S&P Global’s top sovereign rating analysts said, adding that South Africa was a slow-moving story of steadily rising debt to GDP. Nigeria is a country that S&P is now “watching closely”, Frank Gill, one of the ratings […] July 12, 2023
Banking & Finance Etisalat confirms interest in Ethiopian telco Ethio Telecoms giant Etisalat (rebranded as e&) confirmed on Tuesday that it is considering buying a stake in Ethio, a state-controlled operator in Ethiopia. The Abu Dhabi-based company, which is now branded e&, said in a filing to the stock exchange that it was “at an early stage” of assessing a bid. The statement from the […] July 11, 2023
Agriculture UAE firms to develop land in Angola for rice and avocados Two UAE companies have signed a deal to develop a vast plot of land in Angola as the African agricultural sector’s appeal grows among Gulf investors. Dubai Investments and E20 Investment, an Abu Dhabi agribusiness investment company, will develop 3,750 hectares – approximately the size of 9,300 football fields. Maximising the potential of Angola’s fertile […] July 11, 2023
Banking & Finance Invictus reveals $270m Africa investment plan Invictus Investment Company has announced plans to expand into north and east Africa through acquisitions and joint ventures with local entities in the region. Invictus said in a filing to the Abu Dhabi Stock Exchange that it is planning to invest AED1 billion ($270 million) as it targets expansion in African markets. The company will […] July 11, 2023
Food & Drink Chocolate shops squeezed as cocoa bean prices hit 46-year high While chocolate lovers the world over celebrated World Chocolate Day on Friday, retailers are watching the markets anxiously. Cocoa bean prices soared to a 46-year high last week in London and have continued to rise since. The surge in bean prices is due to ongoing supply shortages and is set to increase further, according to […] July 7, 2023
Aviation Sponsorship deal grows Emirates’ presence in Africa Emirates airline is to sponsor a Tunisian sports club, as the Dubai carrier looks to increase its revenues in Africa. The airline will sponsor Etoile Sportive du Sahel, which has teams across a number of sports including football, basketball, volleyball and handball. Emirates’ branding will be on the teams’ jerseys and training kits, as well […] June 23, 2023
Banking & Finance AD Ports to invest $500m in Republic of the Congo deal Abu Dhabi Ports Group has signed a 30-year concession agreement with the government of the Republic of the Congo to operate the multipurpose New East Mole Terminal in Pointe-Noire. The company said it plans to invest more than $500 million over the same period, with around $220 million allocated for phase 1, which is expected […] June 20, 2023
Analysis Economy Wealth funds likely to increase African investments Sovereign investors from the UAE and wider GCC bloc are likely to ramp up investments across African countries, building on a 50 percent jump in capital flows from the Middle East over the past five years, say experts. Agriculture, energy and infrastructure are sectors likely to benefit from multi-billion dollar deals as the UAE accelerates […] June 13, 2023
Opinion Economy Roubles, risks and rewards There are pros and cons to maintaining economic links with Russia despite Western sanctions June 13, 2023
Economy Tunisia likely to see slower economic growth The World Bank has forecast that Tunisia’s economy will grow by around 2.3 percent this year, slightly ahead of the 2.2 percent growth predicted for the wider Mena region. The Tunisian economy will grow by 3 percent in 2024 and remain at the same level the following year, according to its Global Economic Prospects report. […] June 8, 2023
Opinion Oil & Gas Saudi breaks Opec logjam with further oil cuts Prince Abdulaziz's announcement reduces the kingdom's output to its lowest level in years June 5, 2023
Opinion Aviation Airline alliances? Emirates forges its own flight path Bilateral agreements can be easier to manage and more tightly targeted May 25, 2023
Opinion Food & Drink The Arab world needs to ease global food trade barriers The region must embrace food imports May 23, 2023
Analysis Energy UAE in position to plug South Africa’s energy crisis Energy is likely to drive a new era in trade relations between the UAE and South Africa as the latter’s power supply crisis will dominate debate at next year’s general election. Experts say UAE energy powerhouses Masdar and Abu Dhabi National Oil Company (Adnoc) could be attracted to South Africa in light of the crippling […] May 12, 2023
Employment 280,000 jobs lost due to Moroccan drought Morocco’s economy lost 280,000 jobs in the past 12 months, as the farming industry continues to battle against the worst drought the North African country has seen in decades. A report from the Higher Commission for Planning (HCP) said 229,000 jobs were lost in rural parts of the country, where agriculture employs over 30 percent […] May 10, 2023
UAE and Morocco form taskforce to double trade by 2030 The UAE and Morocco are aiming to double bilateral trade and investment volumes over the next seven years. The two countries are forming a taskforce to build on their AED3.6 billion ($991 million) non-oil foreign trade last year, which was up 16 percent from 2021 and more than two-thirds higher than 2020. The UAE is […] May 10, 2023
Development Zain Sudan faces revenue hit amid worsening civil unrest Zain Sudan, the country’s leading mobile operator, has suffered a hit to its revenue as a result of the spiralling conflict in Africa’s third-largest country, a spokesman told AGBI on Thursday. Internecine fighting between two factions of Sudan’s military began in mid-April. More than 500 people have been killed and nearly 440,000 people displaced, the […] May 7, 2023
