The Dubai Chamber of Commerce has disclosed to Citi Business News that more companies in the United Arab Emirates are seeking to invest in bankable projects in Ghana.
This follows efforts by the chamber and the Ghana Investment Promotion Center, GIPC, to attract investors from the UAE, particularly Dubai into areas such as agribusiness, health and manufacturing.
Speaking to Citi Business News on enthusiasm among business owners in Dubai to invest in Ghana, the head of the Dubai Chamber of Commerce, Cyril Darkwa, explained that more investors are looking up to 2020 to partner with Ghanaian businesses.
“The enthusiasm is there. People are looking to Dubai more for financing of their projects. Once they are bankable projects they can definitely secure funding. There are many Dubai companies investing in Ghana. There are more also looking for opportunities in Ghaha” Mr. Darkwa said.
He recounted that a number of Ghanaian companies have already accessed funds from Dubai companies to invest in the health sector.
Ghana-Dubai trade volume
According to the chamber, Ghana’s export trade in agriculture products with Dubai grew by 25 percent in 2018, hitting US$ 25 million in exports up from US$ 20 million in exports in 2017.
Earlier this year, the Chamber was optimistic about increasing non-oil trade with Ghana from 2019 to further deepen bilateral relations between Ghana and Dubai.
The value of Dubai agriculture sector is worth over 100 billion dollars, a figure Ghanaian farmers can greatly gain from.
Dubai just like other UAE countries is said to depend on some special agri products produced in tropical areas such as Ghana.