Mohammad Ali Rashed Lootah, president and CEO of Dubai Chambers, revealed that Dubai’s total investments in Senegal reached around AED3.1 billion ($844 million) from 2011 to the end of 2023.
During his participation in the first leg of the Dubai Chambers’ trade mission to Senegal and Morocco as part of the “New Horizons” initiative, Lootah emphasized the significant growth of Dubai’s investments in Senegal. These investments have created more than 1,200 jobs in the Senegalese market.
Read more: UAE’s ADFD finances projects worth $9.6 billion in 42 African countries
The New Horizons initiative aims to support the expansion of local companies by connecting them with promising global markets.
Lootah identified several positive indicators that suggest strong potential for further collaboration between Dubai and Senegal. He highlighted the impressive growth in bilateral trade, which reached $942 million by the end of 2023, reflecting a 17.7 percent increase.
The trade mission’s objective is to promote and strengthen trade and investment opportunities between Dubai and Senegal.
Over the past four decades, the Abu Dhabi Fund for Development (ADFD) has invested AED35.3 billion ($9.6 billion) in sustainable development projects across 42 African countries. As a strategic partner, ADFD has provided essential support to help these nations achieve their developmental goals.
ADFD also financed projects on the Senegal River, Africa’s ninth-longest river, flowing through Guinea, Mali, Senegal, and Mauritania. The AED99 million ($26.95 million) investment covers hydroelectric and irrigation projects.
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