The Management of the Foreign Investment Network in Nigeria and MahaBiz in India have worked with investors from Asia, the United Arab Emirates, and other African nations to investigate business prospects in Africa.
According to business experts, the attractiveness of rising economies stems from their capacity to open up new possibilities for development and diversification, share knowledge, and establish bridges that will define the future of business in Africa, Asia, and the Middle East.
In her opening remarks at a pre-event video conference on Monday, Olayinka Fayomi, Chairman of Foreign Investment Network, stated that the meeting was noteworthy because it brought together the diverse and vibrant economic landscapes of Africa, Asia, and the Middle East under one roof.
Fayomi stated that FIN will collaborate with local partners and the government to help drive investments into emerging markets.
She also thanked entrepreneurs and other investment partners from Africa, the UAE, and Asia for attending MahaBiz 2024’s pre-event, saying they had come together to establish relationships, share ideas, and explore possibilities that cross boundaries.
According to her: “MahaBiz 2024 is more than an event; it’s a platform for innovation, investment, and dialogue, creating pathways for a prosperous future.
“Investors who take the time to understand the unique characteristics of these economies, assess the associated risks, and implement effective strategies stand to reap the rewards of being early movers in this exciting realm of global investment.
“The main event will be holding physically on 24th and 25th February, 2024 at the Metropolitan Hotel, Dubai and Atlantis the Palm, Dubai, where investment opportunities and agreement will be discussed and agreements signed.”
In addition, the chairman of FIN referenced recent data released by the UAE’s Ministry of Foreign Trade, highlighting that the country’s total trade with six non-Arab African nations – Angola, Kenya, Nigeria, Ethiopia, South Africa, and Tanzania – amounted to a remarkable $8 billion in 2020.
Fayomi also noted that Dubai’s non-oil trade with Africa experienced a remarkable growth of over 71 percent, surpassing $50 billion in 2020.
Furthermore, she mentioned projections indicating that Dubai’s trade with Africa is expected to witness an annual growth rate of up to 10 percent over the next five years, attributed to the implementation of the African Continental Free Trade Area (AfCFTA), as per recent analysis from Dubai Chamber.
In 2022, trade between Asia and Africa reached $267 billion, with the UAE serving as a significant trade intermediary, facilitating transactions. Specifically, Dubai’s trade with Africa amounts to $45 billion annually.
Fayomi expressed appreciation to the participants, leaders, and visionaries who have played crucial roles in shaping the economic landscapes of their respective regions.
The theme of the forum, titled: “Catalyst In Business, Investment and Economic Growth,” will feature discussions around the vast potential businesses within emerging markets, roles of investors in the global investment arena, pathways to economic growth, development and the inherent opportunities across the globe.
Also speaking during the virtual conference, Dr. Sunil Manjarekar, CEO of Sanbook Quality Consultancy, said in today’s ever-changing and competitive global economy, private equity funds have emerged as powerful catalysts for driving economic growth.
Manjarekar said: “These investment vehicles play a crucial role in fueling innovation, fostering entrepreneurial ventures, and creating opportunities for job creation.
“With their ability to infuse much-needed capital into businesses across various sectors, private equity funds have become key players in shaping the trajectory of economic growth worldwide.”
Dr. Manjarekar advised investors to take advantage of investment opportunities in mining, water resources, recycling, agriculture, and real estate, among other areas.
Rajan Raje, Chairman, Nichem Group, India; Rajesh Agrawal, Chairman, RKG International, Dubai; Rajeev Lingras, Chairman, Builders Association of India; Dr. Sunil Manjarekar, CEO of Sanbook Quality Consultancy; John Laniyi, Director, HSB Homes; Hon. Aminu Suleiman Takuma, Commissioner of Trade, Industry, and Investment, Niger State, Nigeria; and Ajala Abdulrasaq, Director Business Relations, FIN.
