Gulf States intensify scramble for control of Africa investments
Tanzania, May 19 -- The African investment landscape faces a major shift as Gulf Co-operation Council (GCC) member States - especially Saudi Arabia, the United Arab Emirates (UAE) and Qatar - increase their footprint on the continent, largely under the control of the Chinese investors.
A new report by the Economist Intelligence Unit (EIU), the research and analysis division of The Economist Group, shows that GCC companies and institutions are targeting a larger share of Africa's resource industries of oil and gas, mining and agriculture, while consolidating their strong position in transport infrastructure and logistics services, and expanding into renewable energy, digital infrastructure, manufacturing ventures and financial services.
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