SCCI to explore investment opportunities with Africa

The Sharjah Chamber of Commerce and Industry (SCCI), represented by the Sharjah Exports Development Centre (SEDC), embarked today, Monday, on a trade mission to Uganda and Kenya.

Set to run from 11th to 14th November, the trade mission is part of SCCI’s annual initiatives to expand bilateral trade cooperation between the UAE and East African countries.

Kenya and Uganda, at the forefront of these relations, are seeing notable economic growth, making this mission particularly timely.

The trade mission delegation, headed by Abdallah Sultan Al Owais, Chairman of the Sharjah Chamber of Commerce and Industry, comprises Chamber board members alongside prominent business leaders and representatives from major industrial and commercial companies based in the emirate.

The first leg of the trade tour, which takes place in Kenya, involves an investment forum to be attended by representatives of prominent local companies and major economic organisations.

The forum will explore cooperation opportunities across key sectors, including oil and gas, construction materials and infrastructure, logistics, food products, and automotive parts.

The forum will feature workshops and panel discussions designed to highlight investment opportunities in both UAE and African markets and to facilitate effective partnerships between Emirati and Kenyan enterprises.

Abdallah Sultan Al Owais underscored the significance of enhancing economic partnerships with East African countries and identifying investment opportunities within this key region. He expressed optimism that the mission would boost collaboration between the business community in Sharjah and its counterparts in Kenya, and Uganda.

He affirmed that the Sharjah Chamber is committed to building on efforts already taken to foster cultural bridges and deepen economic ties between the UAE and Kenya, which witnessed a remarkable growth in non-oil trade volume, reaching over US$3.06 billion in 2023 – a 26.4 percent increase compared to 2022.

Al Owais also pointed to the exceptional growth in trade relations between the UAE and Uganda over the last decade, with non-oil trade reaching record highs. The trade volume expanded from about US$228.7 million in 2015 to approximately US$1.226 billion in 2023, reflecting the strength and depth of the economic ties between the two countries.

He noted that Sharjah Chamber’s trade mission to Uganda not only enhances the competitiveness of its members by introducing them to key investment opportunities but also reaffirms its commitment to supporting Kenyan and Ugandan businesses in investing in Sharjah, This, in turn, will help strengthen economic ties between the UAE and East African nations and enhance prospects for cooperation between representatives of Sharjah enterprises and fellow Ugandan and Kenyan businessmen.

The delegation will further its efforts in Kenya by facilitating one-on-one business meetings between Emirati entrepreneurs and their Kenyan counterparts, creating direct opportunities to forge new partnerships.

The Sharjah Chamber delegation is then set to move on to Uganda, the trade mission’s second stop, to proceed with the programme’s agenda.

In Uganda, the trade mission will organise another investment forum on November 13, featuring extensive participation from both the public and private sectors. The forum aims to explore emerging opportunities in Uganda’s rapidly expanding infrastructure and oil sectors, which are pivotal to the country’s economic growth.

Additionally, the mission in Uganda includes further bilateral business meetings and site visits to local companies and factories, providing the Emirati delegation with an in-depth understanding of local production mechanisms and the Ugandan market's requirements.

The agenda of the Sharjah Chamber’s trade mission to East Africa is packed with a series of extensive business meetings and forums aimed at enhancing investment opportunities and expanding the network of connections between Emirati businesses and their African counterparts.

The mission also features site visits to a selection of companies and factories in Kenya and Uganda to gain firsthand insights into local operations.