adminTemba Dube in Dubai, United Arab Emirates
More than 400 delegates from 41 African countries, including Zimbabwe, will today converge on the city of Dubai in the United Arab Emirates (UAE) for the 6th All-African Investment Forum.
The summit is aimed at promoting African economies and informing the international business community about the vast investment opportunities on the continent. This year it is running under the theme “Africa an emerging investment destination,” and is expected to result in at least $10 billion in business deals. The theme is based on the widely predicted view that the next global economic boom will take place in Africa.
The forum has been designed as a launch-pad for African countries that are positioning themselves to take advantage of the boom while giving the international community a toe-hold into the untapped African business potential.
Zimbabwe is participating for the first time.
A Bulawayo businessman, Mr Davidson Hlalo, managing director of Dataglove Investment is expected to deliver a speech about business opportunities in the country.
The chief executive officer of Titlas Management Consultants, the organisation that convened the summit, Dr Layo Adeniyi told Chronicle that Zimbabwe and the other countries would link up with numerous trade partners from the East.
He said the forum was fast becoming an international market place for serious investors.
“With the Zimbabwe government always opening its business frontier to the international business community, Zimbabwe is bound to enjoy inflow of foreign investors who will be willing to go into partnership with indigenous business entities which will in turn boost the economy, create jobs, and above all, put the country back to its past economic glory,” said Dr Adeniyi.
He said most of the foreign investors put together by Titlas would like to explore opportunities in infrastructural development, housing projects, mining, and such other areas that its business plan are viable.
He said local authorities in the country would also be able to lure partners to revive the ailing water sector.
Dr Adeniyi said Bulawayo, which is struggling to attract investors to rehabilitate its sewer reticulation system and avail more water sources to residents, could benefit if it sent representatives to the summit.
“The All African Investment summit is quickly becoming a favourite networking place for serious business individuals and corporate bodies. The previous summits have resulted in multi-billion dollar investments that include Djibouti Port development by the Dubai World Port Development company, Etisalat mobile telecommunication company opening operations in Nigeria, Port of Senegal deal signed by the Dubai World Port and the Senegalese government and a thriving agricultural development project in Tanzania,” he said.
“Our goal is to open up the continent to foreign investors and support the efforts of African Governments in their drive to develop; hence we have it as a policy to invite African Ministers of Commerce or Trade as Special Guest to the Forum.”
Dr Adeniyi said the forum had been growing steadily over the years in terms of investment and attendance.
“We started the event in 2008 with former President Ibrahim Babangida of Nigeria as chairman, and four African Ministers in attendance. Its maiden edition was impressive with 16 countries in attendance and about 150 delegates.
“Over the years as the forum gets more popular, attendance also increases. With the policy of inviting former African Presidents to chair the forum, credence was given to our initiative and we can confidently claim to have brought the Arab world closer to Africa in terms of investment. The forum has attracted Arab investment to over eleven countries since we started, and we expect this to grow,” he said.
Dr Adeniyi said notable personalities in the business world that included Mr Lamar Nathan Jensen, the founder of World Wide Holdings, UK, Lt Gen Jonathon Riley, Director of Global Projects Solution Consortium, from US, Dr Ulrich Haltiner, Chief Executive of PDS Gentral LLC, from Dubai would attend the conference.
Delegates from 41 African countries, namely; Angola, Egypt, Madagascar, Benin, Eritrea, Malawi, Botswana, Burkina Faso, Burundi, Cameroon, Central Africa Republic, Comoros Island, Congo Brazaville, Congo Kinshasa, Djibouti, Liberia, Lesotho, Kenya, Ivory Coast, Guinea, Ghana Gambia, Gabon, Ethiopia, Mali Mozambique, Nigeria, Niger, Rwanda, Senegal, Sierra Leone, Somalia, South Africa, Sudan, South Sudan, Swaziland, Seychelles, Tanzania, Uganda, Zanzibar, Zambia and Zimbabwe are attending the summit.
Online Reporter