Dubai World commits $4b worth of projects in Africa

Dubai: Dubai World said it has committed $4 billion for various projects in Africa.

These developments include tourist resorts and ports in countries such as Djibouti, Senegal, Rwanda and South Africa.

The holding company that includes entities such as DP World, Nakheel and Istithmar has been particularly keen on tourism projects to benefit from Africa's unique natural heritage.

"We have invested significantly in game parks and reserves throughout Africa and see a bright future for these destinations," Dubai World chairman Sultan Ahmad Bin Sulayem said in a statement.

Long term

Speaking at the World Economic Forum on Africa in Cape Town, Bin Sulayem sought "long-term partnerships" with African states in areas such as ports, business parks and logistics centres, roads and rail networks.

"When combined with investment in education and training in people, it creates wealth and economic stability on which to build a sustainable future," he said.

He said strong infrastructure and investment in human resources would lead to further developments in the real estate, retail, and tourism sectors.

Bin Sulayem said he saw an important role for eco-tourism in Africa.

"Africa has an abundance of natural beauty and the opportunity to provide a unique experience for travellers in a way that is sustainable and ecologically sound," he said.

DP World operates four marine terminals and is building two new ports on the continent, and free zone operator Jafza International has interests in five facilities and projects.

"Dubai World has committed investments of around $4 billion in several strategic sectors through its subsidiary companies," the company statement noted.

Dubai World Africa owns and operates tourism resorts, game reserves and luxury hotels across Africa, including the V&A Waterfront in Cape Town and Gorilla's Nest Lodge in Rwanda.

During his visit to Cape Town, Bin Sulayem also met Jacob Zuma, president of South Africa's African National Congress, and Nigerian President Umaru Yar'Adua.

At the meetings, potential opportunities were discussed.