Johannesburg: South African investment in Dubai exceeded AED1 billion (US$294 million) over the past five years, reflecting growing economic ties between the two markets, a senior Dubai Chambers official said.

According to Emirates News Agency, Salem Al Shamsi, Executive Vice President of International Relations at Dubai Chambers, speaking at the Dubai-South Africa Business Forum in Johannesburg, highlighted that the investments spanned key sectors including information and communications technology, pharmaceuticals, and food industries. These sectors are among other promising economic areas that have seen increased interest.

Al Shamsi stated that Dubai Chambers is actively working to help companies expand into global markets, particularly Africa, which presents significant opportunities for trade and investment growth. This initiative is part of Dubai Chambers' effort to boost economic cooperation and investment flows between Dubai and South Africa.

The forum was part of the 13th trade mission organized by Dubai Chambers to African markets since 2023 under its "New Horizons" initiative. This program aims to support businesses in exploring new opportunities and building long-term partnerships across the African continent.

A delegation of 24 Dubai-based companies from a variety of sectors participated in the forum, aiming to explore investment and trade opportunities in South Africa and strengthen cooperation with local businesses. Al Shamsi emphasized the vital role of Dubai Chambers' representative office in South Africa in supporting companies entering the market and facilitating connections with the local business community.

He expressed confidence in the continued growth of investment flows between Dubai and South Africa, supported by efforts to attract high-value investments and deepen economic cooperation in the future.