Africa has a new big investor and it's not China, UK or France

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Africa has a new big investor and it's not China, UK or France

//business-finance.news-articles.net/content/202 .. ig-investor-and-it-s-not-china-uk-or-france.html

Published in Business and Finance on Thursday, December 26th 2024 at 4:40 GMT by Firstpost
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Emirati companies announced a whopping $110 billion worth of projects.$72 billion of them were invested in the renewable energy sector

196x110/3920 Bytes

The article from Firstpost discusses the increasing economic influence of the United Arab Emirates (UAE) in Africa, highlighting that the UAE has emerged as a significant investor on the continent, surpassing traditional investors like China, the UK, and France. The UAE's investments span various sectors including infrastructure, energy, and technology, with a notable focus on countries like Egypt, Ethiopia, and South Africa. This shift is attributed to the UAE's strategic economic diversification away from oil dependency, seeking new markets and investment opportunities. The article notes that while China has been known for its Belt and Road Initiative, the UAE's approach involves less political strings attached, making it an attractive partner for African nations looking for development without the geopolitical baggage often associated with Western or Chinese investments. Additionally, the UAE's investments are seen as part of a broader strategy to enhance its global economic footprint and secure food and energy supplies.

Read the Full Firstpost Article at:
[ https://www.firstpost.com/world/africa-has-a-new-big-investor-and-its-not-china-uk-or-france-13847652.html ]