Dubai Chamber of Commerce Moves to Address Lack of Economic Data in Africa

Dubai Chamber of Commerce and Industry, a public non-profit promoter of Dubai as an international business hub, has launched a new website, Africa, to provide insights into the continent’s developing markets. Its purpose is to provide vital information on the most promising African countries to do business in. It does this by providing data-backed statistics, strengths and weaknesses, as well as challenges and opportunities of the listed nations.

H.E. Hamad Buamim, President and CEO of Dubai Chamber said, “Dubai Chamber’s strategy in Africa is based on the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and ruler of Dubai, who has requested that all those who represent the country’s business sector do their utmost to enhance business connections with countries in the continent in recognition that it represents a key partner for Dubai and the UAE’s sustainable development.”

He further revealed that the website will help Dubai and UAE businesspersons evaluate countries in Africa where they are considering expanding into. As such, it would be a primary tool to scale-up commercial possibilities across the continent.

The website currently explores ten African countries: Angola, Ghana, Kenya, Nigeria, South Africa, Tanzania, Ethiopia, Côte d´Ivoire, Mozambique and Uganda, with more countries to be added in future upgrades. The portal gives detailed information about each country, including demographics, political outlook, economy, key sectors, trade, foreign investment, business environment and current relationship with the UAE.  It has a section tagged Africa Insight, which includes articles, case studies on Africa markets and examples of companies that have established presence in African countries.

The site provides valuable data and trend analyses to help foreign entities considering investments and business in Africa. Also, it computes rankings and probable risk assessments, as they have been noted from previous years to now. These indices mark the selected country’s general directions and tendencies over time, helping intending businesspersons gauge respective strengths and weaknesses when assessing opportunities.

Africa Gateway will help tackle the lack of data in the continent and on businesses, as the perilous lack of data has made the continent a fog to foreign entities looking to enter. One hopes that in the future African countries will take the initiative in matters like this, rather than wait for outsiders to choose for them.

Last year alone, 14,450 companies joined the Dubai Chamber, bringing total strength of the chamber to 231,000. The Global Business Forum, which until 2016, held mostly for Africa, has welcomed twenty heads of state, ninety-five ministers and government ministers and nearly 6,300 CEOs from sixty-five nations. The fifth GBF will hold between November 18-19, in Dubai, under the patronage of His Highness Sheikh Mohamed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

By Tobiloba Ishola

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