UAE – Mubasher: The Second and final Day of the fifth edition of ‘Global Business Forum Africa 2019’ was on Tuesday, 19 November 2019, where it witnessed discussions of important topics under the theme "Scale-Up Africa”.
Being held under the patronage of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the forum featured a number of speakers, along with exchanging experiences in the field of investment.
Encouraging startups pitch business at GBF Africa 2019
Competitors of the Global Business Forum (GBF) Mentorship Programme from both Africa and the UAE pitched their startup businesses to a panel of experts and prospective investors, along with meeting with potential business partners.
Launched earlier in 2019 by Dubai Chamber, this first-of-its-kind initiative established a new platform for cross-border cooperation.
Launching the ‘Be Part of Dubai’ initiative
Prominent businessmen will be receiving UAE Golden Residency Visas through the ‘Be Part of Dubai’ initiative which was launched after Dubai Chamber of Commerce and Industry signed a memorandum of understanding (MoU) with the General Directorate of Residency and Foreigners Affairs (GDRFA) and Dubai Free Zone Council.
‘Be Part of Dubai’ initiative aims at improving investor confidence in Dubai by providing more certainty and flexibility for businessmen and their families who plan to live or travel to Dubai, while it’s also expected to attract foreign investment flows to the emirate.
E-Visas in African Countries
The impact of the African Continental Free Trade Agreement (AfCFTA) on trade, investment, as well as ease of doing business in Africa was among the discussed topics.
Regarding the AfCFTA and Africa’s shift towards regional integration, secretary general, United Nations Conference on Trade and Development (UNCTAD), Switzerland, Dr. Mukhisa Kituyi commented, “We are starting to see African countries remove visas. Previously, Africans did not facilitate Africans travelling – but this unlocks services potential. Now, 21 countries have e-Visas and visas on arrival, like the UAE. The rest of the world is building walls; Africa is building bridges.”
Uganda in need to create 600k jobs annually
Prime Minister of Uganda Dr. Ruhakana Ruganda said his country depends on innovation to solve social challenges, drive development, and create new employment opportunities.
He further noted that Uganda needs to create 600,000 jobs every year, asserting the new programme to embrace the Fourth Industrial Revolution (4IR).
Substantial resources are being invested into the ministry of science, technology and innovation, Ruganda highlighted, noting that an innovation fund for ICT areas has also been put in place to support startups in the sector.
Mozambique official calls on UAE firms for business
Prime Minister of Mozambique Carlos Agostinho do Rosário called on UAE businesses to get exposed to Mozambique business opportunities, noting that Dubai as an important trading partner to the African nation.
Chairman of Dubai Chamber Majid Saif Al Ghurair addressed the Prime Minister and delegates during a roundtable, revealing that Dubai-Mozambique non-oil trade surged by 107% over the 2015-2018 period.
Above 2,500 delegates attend Global Business Forum 2019
This year’s edition succeeded in gathering 67% higher participation when compared to those attended in the previous edition, with more than 2,500 delegates descending from 76 countries to contribute to the forum in Dubai.
Global Business Forum 2019 hosted 350 bilateral business meetings which are 75% higher when compared to the previous edition. The two-day event featured 40 speakers who joined 26 sessions and panel discussions.