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Press Release

SuperBridge Summit 2024 to foster cross-continental collaborations between

Middle East and Africa amid growing economic ties

-In 2023, GCC Companies Invested over USD 53 Billion in 73 African FDI Projects-

Dubai, United Arab Emirates, 07 October 2024: SuperBridge Summit 2024, organised by the Dubai World

Trade Centre (DWTC) and the SuperBridge Council, is all set to showcase the thriving economic landscape
and investment opportunities between the Middle East and the African continent.

The summit comes at a time when Africa is striving to bolster its industrial sector, particularly manufacturing,
which is crucial for national investment, output and trade. However, the continent faces the unique

challenge of boosting manufacturing output sustainably, avoiding the environmental issues encountered by
other industrialised regions.

In this context, SuperBridge Summit 2024 will convene leaders, policymakers and innovators from both the
Middle East and Africa to explore strategies for achieving sustainable industrial growth. The summit will also

delve into practical solutions for enhancing manufacturing capabilities while emphasising resource efficiency
and minimising environmental impact.

Furthermore, the event coincides with growing economic ties between the Gulf region and Africa, with GCC
companies undertaking 73 foreign direct investment (FDI) projects in Africa, valued at over USD 53 billion,

in 2023 alone. This is primarily driven by the African Continental Free Trade Area (AfCFTA) as well as efforts
of GCC countries, particularly the UAE, to foster sustainable growth in Africa by promoting renewable energy
solutions and climate finance.

Over the past decade, the total investment flow from GCC countries to Africa has surpassed USD 100 billion,

with the UAE leading the list at USD 59.4 billion, followed by Saudi Arabia at USD 25.6 billion and Qatar at
USD 7.2 billion. The UAE’s imports and exports to sub-Saharan Africa have also increased by over 30 per
cent, while Saudi Arabia’s trade value has surged twelvefold in the last ten years. In addition, the government

of Saudi Arabia has signed deals with four African countries to explore strategic mining partnerships.