Dubai, UAE: Agriculture has been identified as the most promising sector for investment in sub-Saharan Africa, according to a survey released by Dubai Chamber.
The survey polled participants of previous editions of the Global Business Forum Africa (GBF Africa), including traders and investors, and explored their insights and views on various aspects of investment across the continent. The findings shed light on investment trends in Africa that will be discussed at the forthcoming Global Business Forum Africa (GBF Africa 2021), which is organised by Dubai Chamber and Expo 2020 Dubai.
The high-level event will take place October 13-14 at Expo 2020 Dubai under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
The survey found that 61% of respondents believed that agriculture represented the most lucrative area for investment in the sub-Saharan region of Africa, followed by telecommunications (45%).
In addition, cash was the preferred option for investment among 61% of respondents, followed by commodities (48%), hedge and private equity funds (42%), bonds (32%), stocks (24%), mutual funds (18%) and Exchange Traded Funds (15%). The abundance of natural resources was the factor identified as the one that most positively impacts investment opportunities ahead of economic growth, demographics, domestic markets, a large low-cost labour force and the political and social environment.
Of the 10 sub-Saharan countries included in the survey, Ghana was identified as the most favourable destination for investment, with 63% of respondents highlighting the country. This was followed by 62% who pointed to Nigeria as being the most promising destination.
Ghana also scored highly as the sub-Saharan African country deemed to be the easiest to do business in terms of foreign direct investment, tying with Rwanda - both with a score of 53%.
Transparent business regulations and a legal framework were most likely to boost trade relations between Africa and the GCC, with 66% of respondents highlighting these factors. Internet of Things and Artificial Intelligence were regarded as offering the most investment potential in a post pandemic world, followed by blockchain, drones, virtual reality, robotics, 3D printing and augmented reality.
GBF Africa 2021 at Expo 2020 Dubai will be structured around three pillars: Reset, Restore and Definers, with the first pillar exploring new ways that African countries can work together to deliver on the promise of the AfCFTA, while the second focuses on models for innovative and sustainable trade, and the third assessing the resilience of the continent’s emerging businesses and the role of government in providing an enabling infrastructure for commerce and trade.
As the Official Business Partner to Expo 2020 Dubai, Dubai Chamber is running a series of commerce and trade initiatives throughout the six months of the event, including three of its flagship global business forums; GBF Africa, GBF Latin America and the inaugural GBF ASEAN, in addition to the 12th World Chambers Congress.
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
