When the Paris opening ceremony begins on July 26, it will be the first time the city has played host for a century after previous editions in 1924 and 1900
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Dubai based investment bank Global Islamic Financial Services (GIFS) will allocate $1B to fund projects identified by ABiQ Business Intelligence (ABiQ), global business intelligence firm.
Business intelligence provider ABiQ is based in Dubai with a team of researchers in Africa collating and validating information. The firm has developed AI to process base data into sought-after business intelligence that can accurately predict where resource shortages will occur, where current opportunities are, and future demand will be.
ABiQ signed an MoU with GIFS on Tuesday and under this agreement, ABiQ will leverage its extensive database to assist GIFS to identify investment and financing opportunities. ABiQ will focus primarily on PPP projects for critical infrastructure such as power, water, healthcare, manufacturing and transport infrastructure but also independent projects in: Agri – foodtech such as hydroponics; Power – solar – hydro – minigrids and ICT sector.
Emil Rademeyer, general manager of ABiQ, said: “With the UAE and the region maturing, both the public and private sector is taking an interest in Africa. The African continent has vast natural resources and still very underdeveloped. This provides ample investment opportunities. The UAE has shown the world what can be done when there is a vision and an underlying will to deliver that vision. Africa has taken note and is keen to learn. The UAE is probably one of the countries’ best connected to the African continent. Not only through its logistics network but also people.”
GIFS is based in Dubai, South Africa and Turkey and provides financing and investment for infrastructure projects, government projects and private equity deals. Mufti Ismail Desai, CEO of Global Islamic Financial Services said: “We have a successful track record of arranging more than $4.3 billion in investment and funding for key projects across governments, private sector including listed and unlisted companies and PPP’s. With this agreement, we can work with ABiQ to identify investment and funding opportunities.”
Desai is a globally renown expert on Islamic Finance and has consulted and has conducted deal advisory of over $4 billion on a range of transactions.
ABiQ is tracking over $4 trillion worth of active project opportunities in Middle East and Africa, including critical information such as ultimate business owners and decision-makers. Through its analytical capability, ABiQ identifies the top developers, contractors and consultants in any Middle East and African market and sector, helping to minimise risk during the development period.
“This is a key milestone in connecting upcoming projects with potential investment opportunities. It has been a long time coming and we have invested heavily in developing trusted and reliable content as well as the analytical capabilities of our platform for our subscribers over the last few years. Now we can identify viable and sustainable projects in the private and government sector, as well as PPP [Public-Private-Partnerships] projects and bring much-needed funding to the table,” concluded Rademeyer. — sandhya@khaleejtimes.com
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