The Dubai International Chamber (DIC) has opened an office in Johannesburg, its first in the country, to unlock even more two-way business opportunities between the emirate and South Africa.
Non-oil trade between Dubai and South Africa reached R112.6-billion last year, 11.5% up on the previous year, and there are currently 777 South African companies registered with the chamber – an increase of 77% since 2016.
The Johannesburg office is the fifth that the DIC has opened in Africa. The other four are in Ethiopia, Ghana, Kenya and Mozambique. All of them are part of the Dubai Global Initiative, established last year by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai and Chairman of the Executive Council. By the end of the decade, the initiative aims to have set up 50 representative offices for Dubai across five continents.
The office in the West Tower at Sandton’s Nelson Mandela Square was officially opened by DIC regional director for Africa and the Middle East; Khalid Al Ali, on Monday July 19, 2023, after the successful conclusion of the annual Saitex trade fair at Gallagher Estate in Midrand. The office will be managed by David Els, who has been appointed as the chief representative for South Africa.
Congratulating the chamber on the opening of its latest African office, DIC president and CEO Mohammad Ali Rashed Lootah said the Sandton office was yet another example of the emirate’s commitment to ensuring Dubai is favourably positioned in Africa.
“The new office in Johannesburg will strengthen trade links with this vital continent and unlocking two-way investments. In line with our strategic priorities and the emirate's foreign trade plan, we are anticipating further growth in Dubai's non-oil trade with South Africa and other key African markets, together with increased strategic investments from businesses on both sides.”
The UAE is the largest trading country in the MENA region as well as the top host of foreign direct investment (FDI), while South Africa is the UAE's top trading partner on the African continent and the second-largest FDI host in Sub-Saharan Africa.
The new office is set to strengthen the robust commercial relationship between the UAE and South Africa by identifying and capitalising on new trade and investment opportunities across a range of key sectors including precious stones and metals, agriculture, logistics, and mining in South Africa, while offering South African businesses a hub to 2,2-billion consumers allowing them easy access to global expansion.