As foreign direct investment (FDI) in Africa from Gulf countries like the UAE, Saudi Arabia, Kuwait, Qatar, Bahrain, and Oman greatly increases, lawyers in these areas foresee a surge in significant opportunities. Reports reveal that last year saw these nations invest over $53 billion in numerous African projects, an impressive increase as the average inflow of FDI from these countries stayed around $10 billion per year throughout the previous decade, from 2012 to 2022.
This fivefold rise in FDI opens up vast opportunities across various sectors on the African continent, according to practicing lawyers from both regions. With this trend, law firms in Africa are expressing a sense of vigor and confidence that the coming year will be an active one for them.
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