State-owned Dubai World is targeting new projects in six African countries as part of its investment drive on the continent, in which an official says ""We look at Africa as an emerging market because I would say other markets are dying of credit crunches," Daniel Saliba, an analyst for the company's Transactions for Africa and Indian Ocean unit, told news conference recently.
through it's Dubai World, One of the World's largest holding company that manages and supervises it's portfolio of businesses and projects across 100 different cities in the world to do business with Africa.
Cargo are sourced in Dubai. Whatever the trader is looking for, it can probably be found here. Clothes from India, electronics, and cars from Japan, locks from China, mobile phones from South Korea, food from Indonesia, half-life size models of Santa Claus from an unknown destination. The list is as endless as anyone's imagination.
Many international businesses which are interested in developing their market in the Middle East have been lured by some attractive features offered by Dubai. The sheer size of the market in Dubai has been increasing at a steady pace. Although the United Arab Emirates has a relatively smaller population than other Middle East countries, its total imports have been registering a steady growth with the passing of each year. The impressive performance can be attributed to the fact that Dubai has emerged as the major re-export centre for the entire Middle East region.
As the growth accelerates, So do shipping companies that operate UAE-African routes.They have been reporting impressive growth over the years and many lines are now eyeing the sector. Significant growth has been reported in shipping movement especially in Containers and RO-RO services to Africa from Dubai over the past years and this has led corporate business establishment like DubaiWorld and others to open offices in Africa and UAE to streamline their actvities.
