Traditionally, investments from the Arabian Gulf into Africa have focused on North Africa, owing partly to closer cultural ties and the Gulf’s focus on western markets. This scenario is slowly changing and so too are the pan-African investment strategies of Gulf investors.
Hotel developers will invest billions of dollars in African projects over the next few years as they seek to take advantage of a fast-expanding middle class and growing business travel.
Nigerian Internet provider Ntel is seeking more than $1 billion to invest in 4G mobile broadband by 2020 as the owner of the former state landline company seeks to take advantage of a rising number of smartphone users in Africa’s most populous country.
Emboldened by the bank’s success in Egypt, the chief executive of Emirates NBD is eyeing further expansion into Africa.
Etisalat Nigeria has filed a court case against rival MTN over the use of a new frequency band which MTN acquired when it bought internet provider Visafone, it said on Monday.
The government of the state of Lagos–Nigeria’s commercial capital–has proudly proclaimed it is building a new city that will become the new financial centre of Nigeria, and perhaps West Africa.
Chinese investment into Africa gets much of the press, but the Arabian Gulf states are quietly making inroads in strategic sectors.
Ashish Thakkar, who co-founded African banking venture Atlas Mara along with former Barclays group chief executive, Bob Diamond, says they are planning a major push into mobile banking in Africa, as their aggressive takeover strategy continues.
The government of Nigeria is unlikely to make withdrawals from the sovereign wealth fund in Africa’s largest oil producer, even as the price of crude declines.
UAE-based conglomerate Mulk Holdings announced that it is investing up to $40 million in developing a duty free shopping centre in Lagos, Nigeria.
Africa is ripe for investment, a fact that is being acted upon by Abu Dhabi companies with increasing regularity.
African countries secured commitments from companies in the Persian Gulf totaling $19 billion to invest in roads, railways and airports at the first West Africa Investment Forum held in Dubai on Tuesday.
Sovereign wealth fund tracking firm, the Sovereign Wealth Fund Institute (SWFI), has upgraded Nigeria‘s sovereign wealth fund, the Nigeria Sovereign Investment Authority (NSIA), to 9 points on the SWFI’s 10-point Linaburg-Maduell Transparency Index.
Etihad Airways , the national airline of the United Arab Emirates, will build upon the success of its Entebbe cargo flights with the launch of a new passenger service to the East African city.
Etihad Airways , the national airline of the United Arab Emirates, has appointed Mrs Wuraola Oduntan as its new General Manager for Nigeria.