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Dubai World makes inroads into Zimbabwe
Mon, 04 May 2009 10:37
TradeInvestSA staff


Dubai World, the state-owned conglomerate that already boasts various investments across Africa on its books, has now moved to shore up its presence in Zimbabwe.

A spokesman for Dubai World Africa confirmed that the group is developing the Bubye reserve in Zimbabwe, its first investment in the sub-Saharan African country.

Dubai World Africa, which announced in March that it had bought stakes in three South African wildlife game parks, has been eyeing a series of investments across Africa’s tourism sector.

"(Africa) is a place where you can see growth... double-digit growth," Dubai World Chairman Sultan Ahmed bin Sulayem told the Arabian Hotel Investment Conference, according to Reuters.

"It's virgin and has so much charm and we can add value to it," Ahmed bin Sulayem said, adding that Dubai World was also looking at investing in additional game parks in Zimbabwe and South Africa.

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