AFRICAN DIPLOMATS BUSINESS LUNCH
An interactive session and business networking with all African Ambassadors, Consul Generals, and Head of Chanceries in UAE.
ALL AFRICAN INVESTMENT FORUM
PROMOTING AFRICAN DEVELOPMENT AGENDA
African continent is no doubt the next investment destination, With this development, it becomes imperative that constant business networking is necessary to attract more investment to the continent. The encouragement of the UAE government as enthused by Her Highness Sheikha Lubna Bint Khalid Al Qasimi UAE Minister for Foreign Trade in her speech at the first edition of this conference has been a moving force and source of encouragement to ensure that this forum is conducted yearly.
African countries are showing more interest in tourism as a source of growth and diversification. Tourism can contribute effectively to the continent’s economic development by drawing millions of visitors to different sites across the continent every year. Sites such as the pyramids of Egypt, the Great Rift Valley of Southern Africa, Mountains like Kilimanjaro in Tanzania, and the site of the most ancient university of Tinbuktu in Mali are some of the major attractions. Nigeria, Madagascar, Ethiopia, Botswana, Ghana and indeed all African countries are home to historical sites attracting tourists. This conference is convened therefore to open up the continent to foreign investors who might be interested in investing in this sector of Africa’s economy.
Islamic banking principles differ substantially from conventional banks. It prohibits usury and collection or payment of interest and based on risk and profit sharing. Such principles provide acceptable financial returns to investors. Clearly, Islamic banking in Africa has a big untapped niche with over 50% of the population being Muslim.
The uniqueness of the Islamic banking principles makes it a perfect alternative for traditional banking system in Africa. This contention inform the initiative to organize this conference with the ultimate aim of educating and informing decision makers in banking and economic policy from all African countries