Duduzane Zuma chats with Ahmed Bin Sulayem who is the Executive Chairman and Chief Executive Officer of Dubai Multi Commodities Centre (DMCC). They virtually talk about business and how Africa can grow from it’s resources.
Bin Sulayem has travelled across the globe including Africa seeking business opportunities since he was in his 20s. He does not send emissaries to talk business for him, Sulayem travels everywhere to do business himself.
He has been to South Africa to talk about doing business in the gold and diamond industries. He revealed that United Arab Emirates (UAE) has grown to be an economic powerhouse through value addition.
Bin Sulayem said African countries must add value to all their products rather than selling bars of gold or rough diamonds. He said their group in Dubai was working with Kenya and Ethiopia helping them to add value to their coffee.
He revealed that DMCC has survived the effects of Coronavirus because they invested in digital technology. They are doing business online. He urged African companies to the same aswell.
United Arab Emirates is one of the biggest trading partners of South Africa and Africa. Bin Sulayem said UAE was ready to work with Africa as it develops. UAE is an example of a country that became rich within a short space of time.
Bin Sulayem said that African leaders must set development time goals and make sure that the projects are completed well before the set time frame.
He added that in UAE if you want to develop in Abu Dhabi or Dubai and the required project is given a ten year completion time frame, what they mean is you must complete within 5 to 8 years well before the set time frame.