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AFRICA UNITED ARAB EMIRATES

Dubai takes advantage of war in Ukraine to boost business in Africa

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“Africa in the Russia-Ukraine war”

AFRICA RUSSIA UKRAINE

Africa in the Russia-Ukraine war

Despite taking place thousands of kilometres from Africa, Russia's invasion of Ukraine is having a substantial impact on the continent's economies and governments. Facing hurdles in the supply of grain, fertiliser and fuel, and starved of Russian investment, especially in mining projects, African countries are trying to adapt to the crisis while Moscow and Western countries are lobbying hard to bring them into line with their respective positions. [...]

The Dubai Multi Commodities Centre sees the challenging commodity market environment as an opportunity to strengthen its trading position in Africa by welcoming Russian and Swiss traders and promoting the use of cryptocurrencies. [...] (835 words)

Published on 27/05/2022 at 05:00 GMT Reading time 4 minutes

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Commodity traders

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ADQ
Ahmed bin Sulayem
Al Ghurair
DMCC Coffee Centre
DP World
Dubai Multi Commodities Centre
Dubai Tea Trading Centre
EU
Faustin-Archange Touadéra
Khalifa bin Zayed Al Nahyan
Louis Dreyfus Company
Mohammed bin Rashid Al Maktoum
Olam
Saeed Al Suwaidi
Sanjeev Gutta
Sultan Ahmed bin Sulayem

Litasco shifts to Dubai to circumvent Ukraine sanctions

The trading arm of the Russian oil giant Lukoil, which until now has been run from Geneva, is gradually moving to Dubai in order to continue its activities in Africa despite sanctions imposed after the invasion of Ukraine.

WEST AFRICA Commodity traders 12/07/2022

Abidjan and Accra allied against multinationals in new cocoa war

The heads of Ghana Cocobod and Ivory Coast's Conseil Café Cacao were in Accra last week to refine their joint strategy in the face of the industry's trading giants and industrialists, who are considering diversifying their supplies elsewhere.

AFRICA UNITED ARAB EMIRATES Commodity traders 10/06/2022

Amit K. Sethi reigns supreme over Africa's informal food sector

The Indian trader Amit K. Sethi, who has been based in Dubai since 2005, owes the growth of his business to African importers in the informal sector.

India's Amit K. Sethi is the head of Asia & Africa General Trading.

Salic CEO Sulaiman al-Rumaih (left) and Olam group CEO Sunny George Verghese. © Linkedin/SulaimanAlRumaih / Edgar Su/Reuters

In Focus

QATAR SAUDI ARABIA UNITED ARAB EMIRATES Commodity traders 06/06/2022

Gulf nations fall back on trading giants for food security

Faced with a tense food situation and the lukewarm success of their agricultural projects in Africa, Saudi Arabia, the UAE and Qatar have fallen back on commodities traders such as Louis Dreyfus and Olam. They are also using the traders' Dubai-based teams to help Egypt and other friendly nations struggling.

NORTH AFRICA Commodity traders Business 20/05/2022

How Al Ghurair is ensuring wheat supplies for its north African clients

The trading company Al Ghurair Resources, the second largest importer of wheat to Algeria and a frequent bidder for contracts in Egypt and Sudan, is banking on cereals from the Americas to replace supplies from Ukraine, where it had a subsidiary.

Spotlight

CENTRAL AFRICAN REPUBLIC Finance Politics 10/05/2022

Touadéra banks on bitcoin to avert bankruptcy

After loudly making bitcoin legal tender in CAR, the country's president is expected in Dubai at the end of the week to oversee the launch of a cryptocurrency mining company. The aim is to ensure that civil servants can be paid in July, at a time when state coffers are empty.

Spotlight

KENYA Commodity traders Business 07/04/2022

Ukraine war forces Kenya to find new buyers for 1m kilos of tea meant for Russia

Kenya, faced with the threat of falling prices, had to find new outlets for huge quantities of black tea in record time. The stock, worth about $3.5m, was initially destined for Russia.

Spotlight

AFRICA Commodity traders Business 10/03/2022

As sanctions bite, oil traders Glencore, Gunvor and others on deck with plan B

Until now, all firms selling petroleum products in West and Central Africa were partly supplied by Russia. But since the US slapped sanctions on Russian fuels, these companies are urgently having to review their supply schedules.

The container terminal at the port of Lobito (Angola), one of the targets of Abu Dhabi Ports. © Empresa Portuária do Lobito/Facebook

Spotlight

AFRICA UNITED ARAB EMIRATES Infrastructure Business 30/09/2021

How Abu Dhabi Ports is preparing its African push

The firm, hitherto overshadowed by its compatriot DP World, has forged numerous alliances with shipowners and commodities traders in recent months. It is now preparing to make offers for several African ports.

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ADQ
Ahmed bin Sulayem
Al Ghurair
DMCC Coffee Centre
DP World
Dubai Multi Commodities Centre
Dubai Tea Trading Centre
EU
Faustin-Archange Touadéra
Khalifa bin Zayed Al Nahyan
Louis Dreyfus Company
Mohammed bin Rashid Al Maktoum
Olam
Saeed Al Suwaidi
Sanjeev Gutta
Sultan Ahmed bin Sulayem

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This article may be accessed by subscribers and e-wallet holders (USD 12.50)

2 options offered to continue reading

Create your free account

create a free account

Set up email notifications for these topics

Litasco shifts to Dubai to circumvent Ukraine sanctions

Abidjan and Accra allied against multinationals in new cocoa war

Amit K. Sethi reigns supreme over Africa's informal food sector

Gulf nations fall back on trading giants for food security

How Al Ghurair is ensuring wheat supplies for its north African clients

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Ukraine war forces Kenya to find new buyers for 1m kilos of tea meant for Russia

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How Abu Dhabi Ports is preparing its African push

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Africa in the Russia-Ukraine war

This article may be accessed by subscribers and e-wallet holders (USD 12.50)

2 options offered to continue reading

Create your free account

create a free account

Set up email notifications for these topics

Litasco shifts to Dubai to circumvent Ukraine sanctions

Abidjan and Accra allied against multinationals in new cocoa war

Amit K. Sethi reigns supreme over Africa's informal food sector

Gulf nations fall back on trading giants for food security

How Al Ghurair is ensuring wheat supplies for its north African clients

Touadéra banks on bitcoin to avert bankruptcy

Ukraine war forces Kenya to find new buyers for 1m kilos of tea meant for Russia

As sanctions bite, oil traders Glencore, Gunvor and others on deck with plan B

How Abu Dhabi Ports is preparing its African push

Set up email notifications for these topics

First visit

Contacts

Tools

Follow us

A website produced by

Indigo Publications also publishes: