UAE investment in Ghana hits nearly US$3 billIon

Business News of Tuesday, 12 December 2017

Source: primenewsghana.com

2017-12-12

Vice President, Dr Mahamudu Bawumia with UAE, Ambassador to Ghana, Kalifa Yousif Alzaabi

Investments from the United Arab Emirates in Ghana have now hit an all-time highest in the history of both countries’ economic relations.

This was revealed by the authorities of the UAE during the commemoration of the country’s 46th National Day.

According to the United Arab Emirates (UAE), Ambassador to Ghana, Kalifa Yousif Alzaabi, investments from the seven emirates that make up the UAE stood at about US$2.4 billion at the end of 2016 and should be averaging at least US$3billion by this years’ end.

The investments represent the cumulative of about 60 UAE owned companies currently operating in Ghana.

The Ambassador also noted that trade relations between both countries was nearly US$2.4 billion during the same period.

Some economic activities that contributed to this significant growth in trade between the UEA and Ghana included direct flights to and fro Ghana and Dubai through the Emirates Airlines; imports and exports of consumer goods; among others.

Distinguished guest at the UEA National Day commemoration were the Vice President of the Republic of Ghana, Dr Mahamudu Bawumia, as well as some other key officials of government.

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