Business News of Tuesday, 26 December 2017
DP World is looking for new investment and expansion opportunities across Africa, as it pushes ahead with its long-term strategy focusing on the continent, the company’s Senior Vice President and Managing Director for the UAE Mohammed Al Muallem told delegates at the fourth Global Business Forum on Africa in Dubai.
“We want to be part of Africa’s progress. We see huge potential in Africa and we are looking to build on our success and the experience we’ve accumulated there to grow further,” said Al Muallem.
He noted that DP World is already present on the ground and has grown to seven locations and ports on the continent covering the Mediterranean Sea, the Red Sea, the Atlantic Ocean, and the Indian Ocean.
He spoke about the company’s aim to partner with landlocked countries and revealed that it has already ventured into Rwanda as part of its efforts to expand from marine operations to dry ports.
“We want to be part of the entire supply chain and we are looking at any opportunity to invest into the supply chain and make it more efficient. Countries may have the ability to produce but lack ways to circulate their product: this is where we come in, sharing our knowledge and expertise,” said Al Muallem.
Offering advice to African partners and stakeholders, Al Muallem said: “By removing red tape and introducing advanced technologies, we can make streamline operations and move things along faster. We can bring great value in that regard based on our experiences here in Dubai, where the government is heavily investing in the digital infrastructure. If we look at the UAE, it is the government that’s really moving things forward and building the necessary infrastructure.”
Organised by the Dubai Chamber of Commerce and Industry, the fourth Global Business Forum on Africa, was held on November 1 and 2, 2017, at Dubai’s Madinat Jumeirah, under the patronage of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
The high-level event is part of the Chamber’s Global Business Forum series, which focuses on Africa, Latin America, and the Commonwealth of Independent States (CIS). To date, the series has hosted 10 heads of state, 74 ministers and dignitaries, and 5,400 executives, as well as a host of influential decision makers from 65 countries around the world.