Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Israeli media: Spanish Parliament has overwhelmingly voted in favor of legislation banning arms sales to "Israel"
Syrian leadership approved the return of spy Eli Cohen's archive to "Israel": Reuters citing sources
Government Media Office in Gaza: The [Israeli] policy of starvation has led to more than 300 cases of miscarriage among pregnant women during the same 80-day period
Government Media Office in Gaza: The [Israeli] policy of starvation has resulted in the deaths of 326 people due to malnutrition and the lack of food and medicine over the past 80 days
UN says no aid distributed yet in Gaza
EU's top diplomat Kaja Kallas asks for a review of EU-"Israel" trade deal
Rubio says Syria could be weeks away from 'full-scale civil war'
Sweden seeks EU sanctions targeting "individual Israeli ministers": Minister to AFP
UK pauses trade deal talks with "Israel", summons ambassador over new Gaza offensive
Al Mayadeen's correspondent: 67 martyrs in Israeli strikes on Gaza since morning.

UAE influence in Africa rivals US, China: Bloomberg

  • By Agencies
  • Source: Bloomberg
  • 21 Mar 2024 17:06
3 Min Read

The UAE has committed significant financial resources, totaling $44.5 billion last year, making it the top investor in Africa for the second consecutive year.

  • x
  • In this Aug. 8, 2019 photo, cement barriers reinforce the sea wall near the citadel in Alexandria, Egypt (AP Photo/Maya Alleruzzo)
    In this Aug. 8, 2019 photo, cement barriers reinforce the sea wall near the citadel in Alexandria, Egypt (AP Photo/Maya Alleruzzo)

A report by Bloomberg on Thursday detailed how the United Arab Emirates (UAE) has "quietly" become a key player in the African continent.

As per Bloomberg, the Gulf country has gained influence by becoming increasingly involved in African affairs, rivaling the influence of China and the US.

The UAE recently invested an astounding $35 billion to "support" Egypt, and billions more were invested in various African countries.

The Gulf country's diplomatic efforts are also observable in backing certain factions in regional conflicts.

According to the report, while Chinese investments have decreased in the African continent, and while the West is showing less consistent or enthusiastic involvement in African affairs, the UAE has made a strategic move in an attempt to fill the void left by global powers.

Read more: UAE signs 15-year LNG deal with Germany starting 2028

The report suggests that Saudi Arabia and Qatar, both neighboring Gulf states to the UAE, are also adopting similar strategies, albeit to a lesser extent.

It further says that the "Gulf states' historic North-African sphere of influence," possibly referring to Egypt, Libya, and Sudan, has expanded to include other countries "into every corner of the continent."

The UAE has committed significant financial resources, totaling $44.5 billion last year, making it the top investor in Africa for the second consecutive year, Bloomberg says.

These investments are primarily directed towards renewable energy, logistics, and technology sectors.

Related News

Uganda: UN halts rations for 1 million refugees, Trump aid cuts blamed

Iran willing to share successes with African nations: Pezeshkian

The countries targeted for investment include Egypt, Morocco, South Africa, and Kenya.

The report also mentions the UAE's role in conflicts across the continent. But unlike its broad investment strategy, its involvement in conflicts tends to be more localized, focusing primarily on regions closer to the Middle East.

For instance, the country backs Khalifa Haftar in Libya, Ethiopian President Abiy Ahmed against Tigray rebels, and Sudan's Rapid Support Forces (RSF).

Though the UAE has denied allegations of supporting the RSF, UN investigators have found otherwise.

From substantial government financial support and support for local leaders to managing nine of Africa's major ports through Dubai-based DP World and allocating $4.5 billion in climate financing, the UAE is exercising significant influence on a large scale.

"That’s making the nation of 10 million a force to be reckoned with alongside the traditional big powers like China, the US, and Europe," the report concludes.

Read more: Global oil industry is fueling war on Gaza: The Guardian

While the report made some valid points, it dismisses the fact that the UAE is diplomatically, economically, and militarily aligned with the US.

The UAE is in fact reinforcing US foothold in the African continent because it conducts a significant amount of trade and investment in US dollars. 

It is worth noting that like other oil-exporting countries, the UAE is part of the petrodollar system.

Oil is traded globally in US dollars, and the revenues generated by the UAE's oil exports are primarily received in US dollars. 

  • Africa
  • UAE

Most Read

Gaza and the logic of necropolitics: Sovereignty measured by killing

Gaza and the logic of necropolitics: Sovereignty measured by killing

  • Politics
  • 15 May 2025
Two F-35 jets arrive at it's new operational base Wednesday, Sept. 2, 2015, at Hill Air Force Base, in northern Utah. (AP)

F-35 near-misses over Yemen signal new risks for 'Israel': Forbes

  • Politics
  • 14 May 2025
Abu Obaida

Abu Obeida posts shortly after Israeli reports about his assassination

  • Palestine
  • 15 May 2025
YAF say struck 'Israel's' Ben-Gurion Airport with missiles, drones

YAF say struck 'Israel's' Ben Gurion Airport with missiles, drones

  • MENA
  • 18 May 2025

Coverage

All
Gaza prevails against genocide

Read Next

All
Gulf investments quietly boosted Elon Musk and family fortunes
US & Canada

Gulf investments quietly boosted Elon Musk and family fortunes

A 3D render of China's planned 'drone mothership' Credit: X/@XH_Lee23
US & Canada

China unveils drone mothership capable of swarm attacks

Relatives of Venezuelan migrants deported by the US to a Salvadoran prison protested outside the UN building in Caracas on April 9, 2025 (AP)
US & Canada

At least 50 migrants deported to El Salvador prison entered US legally

A city bus goes by the historic city of Santiago, Spain during a major power outage across Spain and Portugal on April, 28, 2025. (AP Photo/Mic Smith)
Europe

Spain hit by major phone network outage weeks after nation blackout

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS