UAE Dubai Chamber Survey highlights IOT, AI and Blockchain as most investment potential in Africa

UAE based Dubai Chamber released a survey which polled participants of the previous editions of the Global Business Forum Africa to explore their insights and views on investment in the continent. The findings of the survey revealed that 66 percent of respondents highlighted, Internet of Things and artificial intelligence as offering the most investment potential in a post-pandemic world, followed by blockchain, drones, virtual reality, robotics, 3D printing and augmented reality.

GBF Africa 2021 under the patronage of HH Sheikh Mohammed Bin Rashid Al Maktoum

The findings shed light on investment trends in Africa that will be discussed at the forthcoming Global Business Forum Africa (GBF Africa 2021), which is being organised by Dubai Chamber and Expo 2020 Dubai. The high-level event will take place on 13th and 14th October, 2021, at Expo 2020 Dubai under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai.

The survey found that 61 percent of respondents believed that agriculture represented the most lucrative area for investment in the sub-Saharan region of Africa, followed by telecommunications (45 percent). In addition, cash was the preferred option for investment among 61 percent of respondents, followed by commodities (48 percent), hedge and private equity funds (42 percent), bonds (32 percent), stocks (24 percent), mutual funds (18 percent) and Exchange Traded Funds (15 percent).

Ghana is the most favorable destination for investment

Of the 10 sub-Saharan countries included in the survey, Ghana was identified as the most favorable destination for investment, with 63 percent of respondents highlighting the country. This was followed by 62 percent who voted for Nigeria as the most promising destination. Ghana also scored highly as the sub-Saharan African country that was the easiest to do business in terms of foreign direct investment, tying with Rwanda at 53 percent.

Reset, Restore and Definers

The GBF Africa 2021 at Expo 2020 Dubai will be structured around three pillars: Reset, Restore and Definers, with the first exploring new ways that African countries can work together to deliver on the promise of the African Continental Free Trade Area (AfCFTA), while the second focuses on models for innovative and sustainable trade. The third assesses the resilience of the continent’s emerging businesses and the role of government in providing an enabling infrastructure for commerce and trade.

Official Partner to Expo 2020

As the Official Business Partner to Expo 2020 Dubai, the Dubai Chamber is running a series of commerce and trade initiatives throughout the six months of the event, including three of its flagship global business forums, The GBF Africa, GBF Latin America and the inaugural GBF ASEAN, in addition to the 12th World Chambers Congress.