UAE raises stakes in competition for the lucrative African market - The East African

The United Arab Emirates (UAE) is increasing its commercial influence in Africa, becoming the biggest source of foreign direct investment (FDI) for the continent among Gulf Cooperation Council (GCC) states. The UAE has emerged as the fourth-largest investor globally in Africa, after China, Europe, and the US. FDI flows from the GCC states to Africa between 2012 and 2022 reached $101.9 billion, with the UAE accounting for $59.4 billion. The UAE is focused on high-growth sectors such as infrastructure, energy, transport, logistics, and technology. Other global powers, including China, India, Russia, and the US, also compete for influence in Africa.

Source: Link