Abu Dhabi Exports Office Strengthens Economic Ties With Angola Through Strategic Investments

Abu Dhabi Exports Office (ADEX), part of the Abu Dhabi Fund for Development (ADFD), is dedicated to boosting national exports. This is achieved through strategic investments in digital and green infrastructure, which not only aid Angola's development but also enhance the global reach of Emirati businesses.

In February 2023, ADEX signed two significant financing agreements with Angola, totalling AED445 million. These agreements aim to support key technology and infrastructure projects. The first agreement, valued at AED330 million, involves creating two advanced data centres and a national cloud-computing platform through Presight, a UAE company known for artificial intelligence and big data solutions.

The second agreement, worth AED115 million, focuses on upgrading street lighting systems in various Angolan cities using energy-efficient technologies. This project is in collaboration with Mark Cables, a UAE-based leader in this field. These financial arrangements were made possible with Standard Chartered Bank's partnership and Etihad Credit Insurance's support, ensuring robust financial security and sustainability for these initiatives.

Mohammed Saif Al Suwaidi, Director General of ADFD and Chairman of ADEX’s Exports Executive Committee, highlighted the importance of these strategic projects. He stated that they facilitate significant developmental impacts while opening new markets for UAE companies. "ADEX’s cooperation with Angola reflects the shared vision of both nations in advancing sustainable development and economic growth," he said.

The increasing presence of ADEX in Angola signifies the UAE's commitment to strengthening economic ties with Africa. By offering integrated financing solutions, ADEX empowers national companies to confidently enter global markets. This approach unlocks opportunities and fosters partnerships that contribute to sustainable development and economic progress.

ADEX's initiatives are crucial for both nations as they work towards common goals of sustainable growth and development. Through these efforts, Emirati companies can expand their international presence while supporting Angola's infrastructure advancements.

With inputs from WAM