‘Africa offers great prospects for Qatari investors’

Doha, Qatar: With the volume of trade between Qatar and African countries witnessing significant growth in recent years, driven by mutual economic int...

Doha, Qatar: With the volume of trade between Qatar and African countries witnessing significant growth in recent years, driven by mutual economic interests and strategic partnerships, Africa is positioned to be the next frontier for Qatari investors considering tremendous opportunities the continent offers, said Yassin Aman Mohamed Al Jabarti, Director of Gulf African Commercial Representation (GACR) Qatar.

Over the years, the 55 countries of Africa have taken centre stage of the global investment agenda, with the continent widely regarded as “The Next Asia”. Foreign direct investment and international projects in key areas such as energy, infrastructure, and finance have become major driving forces behind the unparalleled growth of African markets.

The booming economies of Nigeria, Kenya, Ethiopia, Angola, and other nations—many of them expecting GDP growth rates in excess of 7% per year, every year, for decades to come—offer fascinating opportunities for global business and African citizens alike.

According to statistics from the National Planning Council, the volume of trade between Qatar and South Africa, Africa’s largest economy, was QR980m in 2023, while its volume of trade with Egypt stood at QR540m within the same year. For Algeria and Nigeria, the third and fourth African biggest economies at the moment, it was QR297m and QR342m, respectively, while it was QR48m for Ethiopia, the fifth biggest economy in Africa.

 “Qatar’s strategic focus on economic diversification has led to a growing interest in the African continent, presenting a wealth of opportunities for businesses,” noted Al Jabarti, who, together with his partner, Saleh Gawas, the president of GACR, helps in facilitating investment opportunities for Qatari investors in African countries.