UAE adds DR Congo to its Africa trade push

The UAE’s ties with the Democratic Republic of Congo are set to deepen, after the two sides signed 16 MoUs spanning mining, energy, infrastructure, agriculture, and digital transformation, state news agency Wam reports. The agreements were signed during a UAE-DRC Trade and Investment Day in Lualaba province, led by Trade Minister Thani bin Ahmed Al Zeyoudi. Specific commercial terms and project details were not disclosed.

The backdrop: UAE-DRC non-oil trade reached USD 2.1 bn in 9M 2025, up 19.2% y-o-y, as the UAE steps up its Africa trade push with an eye on critical minerals and infrastructure-linked supply chains. The DR Congo move follows a string of similar plays, including a newly signed trade and economic partnership with Nigeria aimed at accelerating bilateral flows in energy, technology, agriculture, and metals.

GSU acquires pipeline of hydroelectric assets in Kyrgyzstan

Global South Utilities (GSU) acquired a 51% stake in local renewables outfit 40Capital, handing the Abu Dhabi-based investor control of a pipeline of run-of-the-river hydroelectric assets in Kyrgyzstan, according to state news agency Wam. It is the firm's first foray into hydro technology and consolidates its expansion in CIS countries, coming hot on the heels of its entry into Uzbekistan. The acquisition diversifies its Central Asian power mix beyond standard solar and wind.

Open Finance reaches Islamic banking

Abu Dhabi Islamic Bank (ADIB) has become the first Islamic lender to implement Open Finance under the Central Bank of the UAE’s (CBUAE) Al Tareq initiative, Wam reports. The move places ADIB among early adopters as open finance shifts from pilot projects into live banking infrastructure.

Background: Rolled out by the CBUAE in 2024, the framework allows customers who have consented to the initiative to share bank data and initiate payments via licensed third parties using secure APIs.

The rollout is already gathering pace: Fintechs Lean Technologies and Ziina executed the UAE’s first customer-initiated Open Finance transaction earlier last week, while Commercial Bank of Dubai became the first lender to formally join the ecosystem, followed by First Abu Dhabi Bank. ADIB’s entry brings Islamic banking into the fold, expanding the pool of accounts that can plug into third-party payment, aggregation, and credit services.

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