The UAE, for instance, announced a $4.5 billion investment in clean energy in Africa during a landmark climate summit in Kenya last September. Africa’s significant economic potential – including its vast uncultivated arable land, solar resources, fast-growing economies and critical minerals – presents a substantial opportunity for Gulf countries to unlock. Last year, Gulf countries funded more than $53 billion of projects in Africa, surpassing the US investment of $10 billion during the same period. A “GCC-Africa Corridor” makes sense from a logistical perspective. Closer ties benefit both regions, and the increased trade and investment flows highlight the potential of this partnership.

Source: The North Africa Journal February 26, 2024 07:04 UTC