Dubai ALN forum to discuss investment prospects in Africa

Emirates Business

Global leaders will meet in Dubai for the Africa Legal Network’s (ALN) 3rd Annual International Conference on October 5-6 at the Park
Hyatt, Dubai, UAE. The invite-only event will bring together government representatives and business professionals to discuss the greatest opportunities for foreign investment in Africa.
The conference comes as total non-oil trade between the two regions is now valued at about USD 24 billion: a 700% increase since 2006, according to the Dubai Chamber of Commerce.
With the UAE Minister for Culture, Youth and Social Development, His Excellency Sheikh Nahyan bin Mubarak Al Nahyan, as the Guest of Honour, the conference will include a range of panels and talks from speakers with a deep understanding of working in Africa, including International Enterprise Singapore Director Jaya Gopalakrishnan, Former US Assistant Secretary of State for African Affairs Jendayi Frazer and Centum CEO James Mworia.
ALN Chairman and former Malian Prime Minister, Dr. Cheick Modibo Diarra, said: “Africa continues to present unparalleled opportunities for foreign investment, and our 2016 conference will provide a crucial platform for gaining valuable insights into the opportunities available to investors across the Gulf region and beyond. This year will build on the success of previous years, with top calibre panel members, engaging presentations on challenges and trends to look out for, and opportunities to network with African business experts from across the globe.”
He continued, “Dubai is widely acknowledged as the gateway to Africa for its global connectivity, concentration of corporate headquarters and geographical location at the heart of important trade corridors. It is the ideal location for the event.”
This year’s conference will feature a presentation by McKinsey & Co with the key findings of the McKinsey Global Institute’s (MGI) upcoming report titled Lions on the move II: Realizing the potential of Africa’s economies, which is due for publication this coming September 2016. The report highlights the USD 4 trillion opportunity to serve fast-growing African consumer and business markets. It also presents a first-of-its-kind analysis of the continent’s 700 largest companies, showing how they can raise their scale for the benefit of customers, employees, shareholders, and entire economies.
Over 500 delegates are expected to attend the event, including senior government officials, stakeholder executives and key members of the international investment community. Topics discussed at the conference will include raising capital in Africa, private equity, and risk management.
Africa is one of the world’s fastest growing regions, with significant opportunities for investment. According to EMPEA, the global industry association for private capital in emerging markets, over USD 4 billion was raised by private equity firms for Sub Saharan African investment in 2015. Attractive opportunities are emerging across the continent, including in regions previously ignored. A 2015 World Bank report stated, “[Africa] has become the second most attractive investment destination in the world – ranking just behind North America — as investors are looking beyond the more established markets of South Africa, Nigeria and Kenya.”
Trade between the UAE and Africa has grown enormously in the past 10 years. A number of sectors are enticing investment from the Middle East and beyond, including tourism following the rapid growth of the sector in South Africa, and agriculture. Opportunities to modernise telecommunications and expand Africa’s mobile penetration have also attracted investors from across the Middle East to invest heavily in recent years. Conference sponsors include International Enterprise Singapore; Centum; The Mauritius Commercial Bank (MCB) and SBMI.