The news came out just a few days ago: ADNOC Distribution, a petroleum retailer in Abu Dhabi, the capital of the United Arab Emirates, will take over energy giant Shell’s petrol stations and fuel business in South Africa. The price is thought to be around $1 billion (€870 million). With this purchase Abu Dhabi has assured itself of a place in the African continent’s fuel market.
This billion-dollar deal is just one example of a larger trend. Even taking into account the occasional small declines, the Gulf states have been growing their economic presence in Africa for years now.
