Dubai, UAE: New technologies and trends are reshaping Africa’s economic landscape and creating plenty of business opportunities and investment prospects which were not there before, industry experts said during opening sessions on the first day of the Global Business Forum Africa 2019 in Dubai.

During a session entitled Finding the Sweet Spot – Momentum for Change, Dr. Carlos Lopes, professor at Nelson Mandela School of Public Governance, University of Cape Town, said that Africa couldn’t be ignored for two reasons.

"Africa is positioning itself as the continent where you have the highest young consumer concentration. Secondly, it's not just the size, but because it's easier for younger people to absorb the new technologies,” he explained.

Sharing his insights and perspective, Jonathan Berman, author of Success in Africa: CEO Insights from a Continent on the Rise, noted that continent’s growing appeal as an attractive investment destination is being driven by widespread digitisation.

"The visibility and scale of opportunities across borders is like never before. The range and size weren’t there seven years ago," said Berman, who stressed the importance of initiatives like Dubai Chamber's GBF Mentorship Programme which has created new growth opportunities for African entrepreneurs who are looking to scale their businesses and expand beyond borders.

During another interactive session entitled Linking Back – the Entrepreneurial Support Chain’ saw Toyin Sanni, Group Chief Executive Officer, Emerging Africa Capital Group, shared her views on a changing business landscape in Africa.

“A great deal has changed and there is now a lot more support. At the beginning of my career I was dependent on the goodwill of my superior - now we have in-house mentorship programmes and I’m happy to see entrepreneurs coming to the table,” Sanni said.

Dr. Divine Simbi-Ndhlukula, Founder and Managing Director, Securico, Zimbabwe, stressed the importance of investing in education and skills development. She noted that more should be done on the part of African banks to support the growth of start-ups, and described her journey from working on farm in Zimbabwe to launching a successful business as a tough transition, adding that the learning curve for women is now a lot shorter.

The similarities between the UAE and Africa were highlighted by speakers and panellists on the first day of the forum. Arif Amiri, Chief Executive Officer, Dubai International Finance Centre, UAE said; “There are a lot of similarities between the regions – innovation connects us. Financial inclusion is the biggest opportunity in the region. We need to harness innovation - we need to push innovation in the region and support it.”

Women’s role in business also came under the spotlight as industry experts underlined the importance of ensuring that women entrepreneurs get the funding they need to launch viable businesses. Sanni noted that women comprise 50 percent of employees at her company and added that the organisation has made a strategic push to ensure that women have a voice.

GBF Africa 2019 is organised by Dubai Chamber of Commerce and Industry (Dubai Chamber) under the patronage of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

Held under the theme ‘Scale-up Africa,’ this year’s forum puts a key focus on entrepreneurialism as an enabler of Africa’s business growth. The two-day forum, taking place November 18th-19th in Dubai is bringing together heads of state, policymakers, prominent business leaders, entrepreneurs and industry experts from the UAE and Africa to discuss business opportunities emerging across Africa and explore new avenues of economic cooperation.

© Press Release 2019

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