Launching the “Investobia-Africa” dialogues to enhance economic and investment partnerships between the UAE and African markets

Investopia launched the “Investobia – Africa” event as part of the “Investobia Global Dialogues” series at the Eko Convention Center in Lagos, Nigeria, with the aim of strengthening economic and investment partnerships between the United Arab Emirates and Nigerian markets in the sectors of the new economy, finance, investment, infrastructure, logistics, trade, energy, renewable energy, technology and biotechnology, in cooperation with SkyKapital and Eko Atlantic.

The event was attended by Mohammed Hassan Al Suwaidi, Minister of Investment, Dr. Jumoke Oduwole, Federal Minister of Industry, Trade and Investment of Nigeria, Mohammed Abdul Rahman Al-Hawi, Undersecretary of the Ministry of Investment, and Abubakar Dantsoho, Director General of the Nigerian Ports Authority.

It was also attended by more than 300 participants, including ministers, government officials, businessmen, investors, economic experts, and representatives of major private sector companies and institutions, in addition to leading banks in the UAE and Nigeria, most notably EDGE, First Abu Dhabi Bank, Citigroup, Digital Energy, FIRST Exploration & Petroleum Development, the African Finance Corporation, the West African Development Bank, First Bank of Nigeria, and McKinsey.

Mohammed Hassan Al Suwaidi said, on this occasion, that the UAE and Nigeria have had strong economic relations since the early 1980s, which developed over the past decade into a multifaceted partnership that contributed to increasing bilateral investments in various sectors.

He added that the two countries today share a firm commitment to economic diversification, with promising opportunities to enhance existing economic integration as two rapidly growing economies and strategic gateways to the Middle East and Africa.

He explained that the UAE continues to strengthen its role as one of the most prominent investment partners in Africa, as its investments exceeded 110 billion US dollars between 2019 and 2023, making it the fourth largest global investor in the continent, and confirming its commitment to the economic and investment partnership with Nigeria and with the African market in general.

For his part, Mohammed Abdul Rahman Al-Hawi said that the existing cooperation between the UAE and its partners in Nigeria and the African continent, through the Investopia platform, reflects the commitment to building future partnerships and opening new horizons for bilateral investment, pointing out that the UAE, as one of the top ten destinations for foreign direct investment in the world, continues its pivotal role in global investment.

He added, “We encourage investors from the friendly Federal Republic of Nigeria and all African markets to explore the various opportunities within the business and investment environment in the UAE, especially in high-growth sectors, as the country continues to develop its policies that support investment and attract business, develop advanced infrastructure and expand global connectivity, thus consolidating its position as a strategic platform for companies to expand with confidence at the regional and global levels.”

In detail, the “Investobia – Africa” event witnessed the organization of 5 dialogue sessions, which began with the ministerial session under the title “Strategic Partnership for Growth: Deepening Economic Cooperation between the UAE and the Federal Republic of Nigeria,” with the participation of His Excellency Mohammed Hassan Al Suwaidi, Minister of Investment; and Her Excellency Dr. Jumoke Oduwole, Federal Minister of Industry, Trade and Investment of Nigeria.

The session discussed opportunities to enhance the economic and investment partnership between the two countries in light of the growing development in bilateral relations between the UAE and Nigeria at the governmental and economic levels. It also discussed the importance of expanding cooperation in the sectors of trade, investment, energy and infrastructure, and the importance of developing new sustainable economic partnerships between the Emirati and Nigerian business communities during the coming period, in a way that supports long-term growth and enhances economic integration between the two countries.

While the second session, entitled “Infrastructure and Logistics for the Next Phase of Trade in Africa,” focused on the role of infrastructure and logistics services in enhancing the competitiveness of trade on the continent, while highlighting the UAE’s advanced expertise in infrastructure development and management, and its role in supporting Nigeria’s position as a strategic gateway to West Africa, as well as the importance of developing ports, logistics corridors, and integrated logistics service platforms, along with digital trade infrastructure, and building flexible supply chains that support regional and global trade. Babajide Sanwo-Olu, Governor of Lagos State, and Abu Bakar Dantsoho, Director General of the Nigerian Ports Authority, and Martin Trico, Head of Corporate Banking Group at First Abu Dhabi Bank.

The third session, entitled “Attracting Capital from the Most Beautiful Growth in Africa,” with the participation of His Excellency Mohamed Abdel-Rahman Al-Hawi, Undersecretary of the Ministry of Investment, and Samaila Zubairu, President and CEO of the African Finance Corporation (AFC), discussed how to transfer capital into bankable projects in priority sectors, the most prominent of which are energy, infrastructure, and industrial development.

The participants discussed ways to develop the partnership between the business and investment system in the UAE on the one hand, and development financing bodies and project operators on the African continent on the other hand, and the role of platforms such as Investopia in enhancing the outcomes of this partnership by accelerating the transition from financial commitments to actual implementation and establishing pioneering projects and investment partnerships that drive growth on both sides.

The fourth session, titled “Capital at Scale: Enabling Financial Systems to Attract Investment to Africa,” highlighted the role of financial institutions in providing long-term financing to growth sectors on the continent, with the participation of Miguel Azevedo – Vice Chairman of Investment Banking for the Middle East and Africa at CitiGroup, Serge Ekwe, President of the West African Development Bank (BOAD), and Olusegun Alipioso, Managing Director of First Bank of Nigeria, while the session was moderated by David Tabet, CEO. For operations at Investopia.

Discussions focused on the importance of innovative financing structures, cross-border platforms and regulatory reforms in enhancing investor confidence and directing global capital towards productive investment opportunities with a sustainable economic impact.

The event concluded with the fifth and final session, entitled “Securing Supply Chains for Critical Technologies,” which discussed the UAE’s growing role in supporting the resilience of global supply chains, and the importance of securing supply chains for critical technologies in light of geopolitical transformations and technological acceleration.

The event also witnessed the organization of a group of bilateral meetings and roundtable meetings at the level of the government and private sectors in the UAE and Nigeria, to enhance communication between the Emirati and African business communities, and to stimulate the participation of investors and businessmen in the two countries to expand with new and vital projects in the sectors of the new and sustainable economy.

Mohammed Hassan Al Suwaidi, Minister of Investment, witnessed the signing of a memorandum of understanding between Digital Energy and FIRST Exploration & Petroleum Development, with the aim of enhancing cooperation in the areas of transformation in the energy sector, exchanging experiences on artificial intelligence solutions and data analysis, in addition to enhancing the efficiency of operations and sustainability.

It is noteworthy that the “Investobia-Africa Dialogues” event comes as an extension of the expansion path of the “Investobia” Global Dialogues, which was organized in about 21 global cities to enhance its role as an international platform that brings together leaders and decision-makers from various markets, with the aim of building a broader network for economic cooperation and knowledge exchange.