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Zawya
27-05-2025
- Business
- Zawya
Oman, East Africa explores investment opportunities
Muscat: The two-day Oman-East Africa Business Forum and East Africa Trade and Investment Exhibition 2025, organised by the Oman Chamber of Commerce and Industry in collaboration with Global Digital Technologies, began on Monday at St Regis Resort, Muscat. The forum and exhibition present the opportunity to exchange insights, explore investment opportunities, and establish trade partnerships that will help boost commercial exchange and diversify sources of income, in alignment with Oman Vision 2040 and the economic development goals of East African nations. Faisal bin Abdullah al Rawas, Chairman of Oman Chamber of Commerce and Industry (OCCI), said that hosting the forum and exhibition stems from the strong belief in the importance of building effective regional partnerships that contribute to sustainable development and open new avenues of cooperation in promising key sectors, including trade and investment, renewable energy, sustainable development, education and human capital development, fintech and digital transformation, infrastructure and logistics services, agribusiness and food security, and innovation. "The Omani–African relationship is not a product of today; rather, it is deeply rooted in history. Oman has been connected with East African nations through strong cultural and trade ties for centuries, during which commercial and knowledge exchanges flourished, fostering human and economic relationships that laid a solid foundation for long-standing cooperation. Today, we affirm that these relations are entering a new phase of growth and integration, guided by a clear vision for a shared economic future, backed by sincere political and diplomatic will, and driven by the private sector on both sides," Al Rawas said. Richard Ngatia, President, East Africa Chamber of Commerce, Industry and Agriculture, said that East Africa is a dynamic region of over 400 million people with a population whose average age is around 22 – a huge asset in terms of human capital and market potential. Collectively, he pointed out that the economies have a GDP exceeding $300 billion and are growing steadily. "We are investing heavily in infrastructure and technology. New railways, expanded ports and widespread 4G/5G connectivity are opening the region and lowering the cost of doing business. Major multinationals have established regional hubs in East Africa, reflecting global confidence in our stability and potential. Ongoing reforms and regional integration efforts are further improving the business climate. In short, East Africa offers a youthful market, an improving business climate, and a strong commitment to openness – fertile ground for investment across many sectors," he said. Agriculture is the backbone of East Africa's economy, employing the majority of the people and contributing a large share of GDP. The region's lands produce crops and products such as tea, coffee, flowers, beef, avocados, frankincense (in Somalia), and more, that bring in much-needed foreign exchange. East Africa exported over 500 million kilogrammes of tea last year, with Kenya alone earning about $1.5 billion. Yet farming is often small-scale and rain-dependent, leaving the sector vulnerable to droughts and climate change, the chairman pointed out, adding, "Investment opportunities include irrigation and water management systems to support year-round farming, reducing dependence on unpredictable seasonal rains, and investing in machinery, storage and post-harvest processing technology to enable larger-scale, more efficient farming and cut post-harvest losses." "To truly prosper, East Africa must export finished goods, not just raw materials. Manufacturing today contributes only around 11% of our GDP and has stagnated – but we are determined to change that by attracting investment and diversifying our industrial base. Opportunities in manufacturing range from everyday consumer products to processed goods demanded by East Africa's growing middle class and across the region," he explained. In Rwanda, for instance, one can register a new business and obtain all required licences in a single day. Such reforms lower barriers to entry and encourage new factories. He said another asset of East Africa is its abundant mineral resources, from gold and gemstones to strategic 'green economy' minerals like cobalt and rare earth elements. The Democratic Republic of Congo, now part of the EAC, is the world's largest cobalt producer and holds huge reserves of copper, gold, diamonds, and other minerals. Tanzania is also a producer of gold, diamonds, and the rare tanzanite, while Uganda and Rwanda are exploring new deposits of lithium and tantalum. Burundi offers notable opportunities in gold, nickel and cobalt mining. South Sudan's emerging oil industry is holding significant reserves. "Yet much of this mineral wealth remains underdeveloped due to infrastructure and investment gaps. As global demand for critical minerals soars, East Africa's mining sector is poised for a transformative boom," he explained. Opportunities in mining include developing mines and processing facilities for high-demand resources such as cobalt, lithium, graphite and other battery metals essential to electric vehicles and renewable energy technologies. He said East Africa has emerged as a leader in fintech and digital innovation on the continent with examples such as Kenya's M-PESA mobile money platform, revolutionising financial transactions. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Observer
26-05-2025
- Business
- Observer
Oman, East Africa explores investment opportunities
Muscat: The two-day Oman-East Africa Business Forum and East Africa Trade and Investment Exhibition 2025, organised by the Oman Chamber of Commerce and Industry in collaboration with Global Digital Technologies, began on Monday at St Regis Resort, Muscat. The forum and exhibition present the opportunity to exchange insights, explore investment opportunities, and establish trade partnerships that will help boost commercial exchange and diversify sources of income, in alignment with Oman Vision 2040 and the economic development goals of East African nations. Faisal bin Abdullah al Rawas, Chairman of Oman Chamber of Commerce and Industry (OCCI), said that hosting the forum and exhibition stems from the strong belief in the importance of building effective regional partnerships that contribute to sustainable development and open new avenues of cooperation in promising key sectors, including trade and investment, renewable energy, sustainable development, education and human capital development, fintech and digital transformation, infrastructure and logistics services, agribusiness and food security, and innovation. "The Omani–African relationship is not a product of today; rather, it is deeply rooted in history. Oman has been connected with East African nations through strong cultural and trade ties for centuries, during which commercial and knowledge exchanges flourished, fostering human and economic relationships that laid a solid foundation for long-standing cooperation. Today, we affirm that these relations are entering a new phase of growth and integration, guided by a clear vision for a shared economic future, backed by sincere political and diplomatic will, and driven by the private sector on both sides," Al Rawas said. Richard Ngatia, President, East Africa Chamber of Commerce, Industry and Agriculture, said that East Africa is a dynamic region of over 400 million people with a population whose average age is around 22 – a huge asset in terms of human capital and market potential. Collectively, he pointed out that the economies have a GDP exceeding $300 billion and are growing steadily. "We are investing heavily in infrastructure and technology. New railways, expanded ports and widespread 4G/5G connectivity are opening the region and lowering the cost of doing business. Major multinationals have established regional hubs in East Africa, reflecting global confidence in our stability and potential. Ongoing reforms and regional integration efforts are further improving the business climate. In short, East Africa offers a youthful market, an improving business climate, and a strong commitment to openness – fertile ground for investment across many sectors," he said. Agriculture is the backbone of East Africa's economy, employing the majority of the people and contributing a large share of GDP. The region's lands produce crops and products such as tea, coffee, flowers, beef, avocados, frankincense (in Somalia), and more, that bring in much-needed foreign exchange. East Africa exported over 500 million kilogrammes of tea last year, with Kenya alone earning about $1.5 billion. Yet farming is often small-scale and rain-dependent, leaving the sector vulnerable to droughts and climate change, the chairman pointed out, adding, "Investment opportunities include irrigation and water management systems to support year-round farming, reducing dependence on unpredictable seasonal rains, and investing in machinery, storage and post-harvest processing technology to enable larger-scale, more efficient farming and cut post-harvest losses." "To truly prosper, East Africa must export finished goods, not just raw materials. Manufacturing today contributes only around 11% of our GDP and has stagnated – but we are determined to change that by attracting investment and diversifying our industrial base. Opportunities in manufacturing range from everyday consumer products to processed goods demanded by East Africa's growing middle class and across the region," he explained. In Rwanda, for instance, one can register a new business and obtain all required licences in a single day. Such reforms lower barriers to entry and encourage new factories. He said another asset of East Africa is its abundant mineral resources, from gold and gemstones to strategic 'green economy' minerals like cobalt and rare earth elements. The Democratic Republic of Congo, now part of the EAC, is the world's largest cobalt producer and holds huge reserves of copper, gold, diamonds, and other minerals. Tanzania is also a producer of gold, diamonds, and the rare tanzanite, while Uganda and Rwanda are exploring new deposits of lithium and tantalum. Burundi offers notable opportunities in gold, nickel and cobalt mining. South Sudan's emerging oil industry is holding significant reserves. "Yet much of this mineral wealth remains underdeveloped due to infrastructure and investment gaps. As global demand for critical minerals soars, East Africa's mining sector is poised for a transformative boom," he explained. Opportunities in mining include developing mines and processing facilities for high-demand resources such as cobalt, lithium, graphite and other battery metals essential to electric vehicles and renewable energy technologies. He said East Africa has emerged as a leader in fintech and digital innovation on the continent with examples such as Kenya's M-PESA mobile money platform, revolutionising financial transactions.
Times of Oman
26-05-2025
- Business
- Times of Oman
Oman-East Africa Business Conference kicks off
Muscat: The Oman-East Africa Business Conference and the East Africa Trade and the Investment Expo 'ITEX 2025' began on Monday. Organised by Oman Chamber of Commerce and Industry (OCCI) in collaboration with Global Digital Technologies Company, the events are held under the auspices of HH Sayyid Thuwaini Saif Al Said. The conference aims to strengthen regional economic ties, bringing together government officials, industry leaders, investors, and trade representatives from East African nations, including Kenya, Tanzania, Uganda, Somalia, and Rwanda, alongside the Sultanate of Oman. More than 20 economic experts are participating, while over 30 companies from Oman and East Africa are showcasing the latest technologies, solutions, and services in sectors such as agriculture, clean energy, manufacturing, and technology at the accompanying exhibition. The conference explores cooperation opportunities in key sectors, including trade and investment, sustainable development and renewable energy, fintech and digital transformation, infrastructure and logistics, agribusiness and food security, education and human capital development, and innovation. Faisal Abdullah Al Rowas, Chairman of the OCCI Board of Directors, stated that this conference represents a strategic opportunity to enhance economic and trade cooperation between Oman and East African nations. He emphasised that hosting this event reflects the Chamber's deep belief in the importance of building effective regional partnerships that support sustainable development and open new avenues for collaboration in vital and promising sectors. In his speech, Al Rowas noted that Oman's historical ties with Africa run deep, with centuries-old cultural and commercial links between Oman and East Africa. These connections have fostered trade, knowledge exchange, and strong human and economic relationships, forming a solid foundation for joint cooperation. He affirmed that these ties are now entering a new phase of growth and integration, driven by a shared vision for a common economic future and led by the private sector on both sides. For his part, Faiz Mohammed Al Shukaili, CEO of Global Digital Technologies Company, stated that organizing the Oman-East Africa Business Conference and ITEX 2025 expo comes at a crucial time, reflecting Oman's commitment to deepening regional economic integration with East Africa. He described the conference as a vital opportunity to explore new horizons for cooperation and partnership, gathering in one platform many top government officials, business leaders, investors, and decision-makers from key sectors. Al Shukaili added that the conference marks the beginning of a more prosperous phase in Oman-East Africa partnerships, serving as a strategic platform for direct economic dialogue and exploring investment opportunities in sectors critical to sustainable development. These opportunities will enhance private sector engagement, facilitate consensus-building, and lead to tangible commercial and investment projects.
