Dubai readies $1.7b investment spread in Africa

Dubai: It’s time to take on the supply challenges - and one way for Dubai is to go through Africa.

“The supply chains have been exposed to unprecedented challenges,” said Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World Group at the Global Business Forum Africa in Dubai. “We have seen that they [supply chain disruption] are highly affected by global crises and we need to find proactive solutions to address this.

“Nobody knows how long its going to take. I think its going to take a long time.”

Sulayem said the challenges remain within Africa’s industrial sector and realising the continent’s young peoples’ potential. “We are carrying out programmes to educate young people, involve them and refine their capabilities.”

The move is expected to double DP World’s workforce to 100,000 in two to three months, up from 56,000.

Talking about DP World’s latest $1.7 billion investment in Africa, Sulayem said, “The important thing is to use ports to support the continuous development of business and the search for innovative ideas that contribute to the transition to a new era of recovery and prosperity.

“Africa’s economic partnerships can create mutual benefits for UAE businesses and their African counterparts.”.

African countries will, however, must work towards enacting legislation to provide opportunities for business. Amending laws and policies, in addition to providing logistical services and infrastructure, will be a great value addition to African countries for attracting investments.

“They must also work to reduce the cost of transportation and the complexities in supply chains,” the DP World chief added.