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Dubai International Chamber expands presence in Africa by opening new office in Johannesburg
Dubai International Chamber is expanding in Africa, with its latest international office in Johannesburg officially opening. With 21 global offices, including five in Africa, the new Johannesburg office aims to strengthen trade links between Dubai and South Africa and foster bilateral investments.
According to ZAWYA, the expansion of Dubai International Chamber’s presence in Africa signifies its commitment to positioning Dubai favourably on the continent and promoting two-way investments. The chamber has already established representative offices in Kenya, Ethiopia, Mozambique, and Ghana, vital in facilitating trade and investment flows between Africa and Dubai.
The Johannesburg office will provide comprehensive support to the South African business community and foster strong relationships with key stakeholders in the public and private sectors. It will assist South African companies in entering the Dubai market and expanding internationally through the emirate.
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Mohammad Ali Rashed Lootah, President & CEO of Dubai Chambers, emphasised the chamber’s commitment to strengthening trade links and unlocking investment opportunities in Africa. He expects more development in non-oil trade between Dubai and South Africa and other African markets.
The UAE is the leading trading country and the foremost host of foreign direct investment in the MENA region. In turn, South Africa is the UAE’s top trading partner in Africa and the second-largest FDI host in the Sub-Saharan region. Last year, non-oil trade between the two nations experienced a significant year-on-year growth of 11.5%, reaching AED 22.3 billion.
The inauguration of the Johannesburg office is part of the ‘Dubai Global’ initiative launched by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, aiming to establish 50 representative offices for Dubai across five continents by the end of the decade. This initiative aligns with Dubai Chambers’ strategic goals of attracting international business and investment to Dubai and supporting the global expansion of its members.
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By the end of 2022, 777 South African companies were registered with the Dubai Chamber of Commerce, reflecting a remarkable 77% growth since 2016. The new office in Johannesburg will further identify and capitalise on new trade and investment opportunities across sectors such as precious stones and metals, agriculture, logistics, and mining.
Dubai’s strategic location and world-class logistics facilities make it an ideal trade hub for South African companies with global ambitions. With access to 2.2 billion consumers, Dubai provides a gateway for South African businesses to expand their reach worldwide.
About:
Dubai International Chamber operates under Dubai Chambers and aims to promote Dubai as a global business hub, attract multinational companies, and expand the emirate’s trade ties with promising markets. Intending to increase Dubai’s foreign trade from AED 1.4 trillion to AED 2 trillion by 2026, the chamber plays a crucial role in supporting His Highness Sheikh Mohammed’s vision.
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Picture: Twitter / DXBMediaOffice
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