-In 2023, GCC Companies Invested over USD 53 Billion in 73 African FDI Projects-
SuperBridge Summit 2024, organised by the Dubai World Trade Centre (DWTC) and the SuperBridge Council, is all set to showcase the thriving economic landscape and investment opportunities between the Middle East and the African continent.
The summit comes at a time when Africa is striving to bolster its industrial sector, particularly manufacturing, which is crucial for national investment, output and trade. However, the continent faces the unique challenge of boosting manufacturing output sustainably, avoiding the environmental issues encountered by other industrialised regions.
In this context, SuperBridge Summit 2024 will convene leaders, policymakers and innovators from both the Middle East and Africa to explore strategies for achieving sustainable industrial growth. The summit will also delve into practical solutions for enhancing manufacturing capabilities while emphasising resource efficiency and minimising environmental impact.
Furthermore, the event coincides with growing economic ties between the Gulf region and Africa, with GCC companies undertaking 73 foreign direct investment (FDI) projects in Africa, valued at over USD 53 billion, in 2023 alone. This is primarily driven by the African Continental Free Trade Area (AfCFTA) as well as efforts of GCC countries, particularly the UAE, to foster sustainable growth in Africa by promoting renewable energy solutions and climate finance.
Over the past decade, the total investment flow from GCC countries to Africa has surpassed USD 100 billion, with the UAE leading the list at USD 59.4 billion, followed by Saudi Arabia at USD 25.6 billion and Qatar at USD 7.2 billion. The UAE’s imports and exports to sub-Saharan Africa have also increased by over 30 per cent, while Saudi Arabia’s trade value has surged twelvefold in the last ten years. In addition, the government of Saudi Arabia has signed deals with four African countries to explore strategic mining partnerships.
Vanessa Xu, Co-Founder of SuperBridge Council, said: SuperBridge Summit 2024 offers cross continental strategic insights from practitioners on the ground that inspire collaborative opportunities. The strong tie between Middle East and Africa can enable businesses from other regions to enter, expand and grow deeply in Africa from their foothold in the Middle East, and connect to global capital flow and supply chain networks from here, while still be able to leverage their respective competitive advantages from their home countries.
The UAE’s sustainability initiatives in Africa reflect the nation’s vision to triple its renewable energy production capacity by 2030. Such efforts have helped strengthen Africa’s climate adaptation and mitigation strategies while highlighting the UAE’s commitment to advancing international cooperation and sustainable progress.
Joshin Raghubar, Chairperson of Ikineo Ventures, South Africa, said: “The MEA region holds immense potential for win-win collaborations, and this is the right time for companies in the Middle East to capitalise on Africa’s economic and talent boom. Businesses in both regions can facilitate mutual growth and strategic partnerships to achieve the shared goal of nurturing a sustainable future. SuperBridge Summit, the premier platform for convening innovation leaders in the region, plays a crucial role in this regard since it serves as a bridge for cross-continental collaboration and growth”.
SuperBridge Summit 2024 is a one-of-its-kind platform for exploring diverse economic opportunities offered by the MEA region. Leveraging the collective strength of both regions and by fostering strategic alliances, businesses can discover new horizons of growth and position themselves for sustained success.
About SuperBridge Summit
The summit is a pioneering platform aimed at fostering collaboration and innovation among the world’s fastest growing economies. The summit connects, ignites and unites leaders from all walks of life to magnify under-represented voices, give centre stage to vast opportunities from Global East and Global South, and catalyses meaningful actions, rendering them both visible and impactful on a global scale. The event will provide a platform for business leaders, investors, and policymakers to exchange insights and identify new opportunities for cooperation in sectors such as technology, manufacturing, energy, life sciences, mobility, commerce, and agriculture. The event will bring together an esteemed group of global leaders from China, South Korea, India, Brazil, Mexico, Argentina, Nigeria, Egypt, Indonesia, Malaysia, the United Arab Emirates and other GCC countries.
The summit will be held in Dubai, UAE, and is expected to attract widespread attention from the international business community.
About Dubai World Trade Centre (DWTC):
A global business facilitator since 1979, Dubai World Trade Centre (DWTC) is home to the region’s leading purpose-built convention and exhibition centre. DWTC provides a platform for connecting people, products, innovation and ideas from around the world through a dynamic calendar of international trade exhibitions and its own roster of sector leading mega events. As a designated free zone, complemented by award-winning commercial real estate, DWTC plays an integral role in Dubai and the region’s growth story. Since its inauguration, DWTC has hosted over 6,000 events, with an estimated economic output of AED 248 billion, attracting over 38 million business visitors to Dubai.
About SuperBridge Council
SuperBridge Council is an apolitical, open, diverse and multi-culture global organization comprised of a group of renowned business entrepreneurs, social and cultural leaders around the world. The Council ignites, connects and unites future-minded, action-oriented leaders from the world’s fastest growing economies across industries and cultures to discover facts and opportunities that are under-heard, under-appreciated and under-represented. SuperBridge Council works in partnership with business entrepreneurs, corporates, regulatory agencies and institutions to promote productive networks, to stimulate knowledge sharing and creative thinking, to collaborate across disciplines and businesses, and to drive growth and prosperities via realization of vast human potentials.
SuperBridge Council was founded by Ms. Vanessa Xu and Mr. Shane Tedjarati together with a group of achieved leaders from diverse background. Ms. Vanessa Xu leads the Council’s role in SuperBridge Summit.
For further information, please contact:
Orient Planet Group (OPG)
Tel: +971 4 4562888
Email: media@orientplanet.com
Website: www.orientplanet.com
