UAE to invest big in key sectors of South African economy


UAE to invest big in key sectors of South African economy

The UAE plans to invest AED 36.6 billion USD in key sectors of South Africa's economy.

The announcement comes in the midst of a state visit from President Cyril Ramaphosa to the country.

His Highness Sheikh Mohamed bin Zayed al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, received Ramaphosa at the Presidential airport on Friday.

The South African president had earlier been on a visit in Saudi Arabia.

The Emirates has announced that it will invest in the fields of tourism, mining, and will also support sustainable development in South Africa.

According to the national news agency WAM, Ramaphosa's first visit marks the beginning of a new chapter in the long standing relations between the two nations.