Beyond Zimbabwe: Opportunities for Zimbabwean Family Businesses in the Global Market
- Innocent Nyaude
- Feb 24, 2025
- 4 min read
Updated: Feb 21
Setting the Scene
According to Zimtrade, the United Arab Emirates became Zimbabwe's largest export destination in 2024, overtaking South Africa. Zimbabwean exports to the UAE reached US$2.65 billion – a 39 per cent increase from US$1.91 billion in 2023. This growth is largely attributed to firming international gold prices, as the UAE remains a key market for Zimbabwe's gold exports.
Meanwhile, exports to South Africa declined by 4.4 per cent, while exports to China fell by 23 per cent due to falling lithium prices. South Africa remains Zimbabwe's largest trading partner overall. However, with more than 35 per cent of Zimbabwean export value now flowing to the UAE, the market warrants deeper exploration for business opportunities and collaboration. Notably, while Zimbabwe exports significantly to the UAE, imports from the UAE remain relatively low at just 3.2 per cent of Zimbabwe's total imports (US$305 million).
Why the UAE Matters for Family Businesses
The UAE's economic success is driven substantially by family-owned businesses, which account for 90 per cent of all private enterprises in the country. These businesses face universal challenges: governance, succession planning, and managing internal competition. To address these, the UAE Government and private sector have established robust frameworks to ensure sustainability and growth across generations.
Federal-Level Interventions
Federal Decree-Law No. 37 of 2022 established a comprehensive framework for family enterprises, introducing:
A roadmap for governance of family enterprises and regulation of ownership and operations
The Thabat program, encouraging family businesses to diversify into new economic sectors
A unified Registry for Family Companies, creating a comprehensive database under the Ministry of Economy's supervision
Business Support Level
In 2023, the Dubai Centre for Family Businesses was established under the Dubai Chamber of Commerce. Its mandate includes:
Objective | Focus Area |
Promoting a Sustainable Family Business Ecosystem | Creating an enabling environment for growth |
Facilitating Generational Transition and Upskilling | Preparing next-generation leadership |
Driving Policy Influence and Research | Shaping regulations that support family firms |
Developing Strategic Partnerships | Connecting with global institutions |
Partnering with Global Institutions | Delivering world-class training programmes |
Family Level Interventions
The UAE has also created a framework for establishing family offices – structures designed to help families collectively manage, sustain, and grow wealth across multiple generations. These offices address the risks that affluence introduces, including:
Risk Area | Focus |
Family Continuity | Legacy and leadership planning |
Integrated Planning | Tax and financial strategy |
Risk Management | Wealth protection |
Investment Management | Portfolio oversight |
Philanthropy | Structured giving |
Family Administration | Trust and estate services |
Why Establish a Presence in the UAE?
For Zimbabwean family businesses, the UAE offers advantages that extend far beyond trade. It serves as a global hub for expansion, wealth management, and strategic investment.
Advantage | Strategic Benefit |
Access to Capital | The UAE is the world's second-largest destination for foreign direct investment. Institutional investors and venture capital firms actively seek emerging market opportunities. |
Strategic Location | With 33 per cent of the world's population within a 4-hour flight radius, the UAE provides access to Africa, Asia, and Europe. |
Business-Friendly Environment | Free zones offer 100 per cent foreign ownership, corporate tax incentives, and zero income tax. Zimbabwean family businesses can establish holding company structures and optimise tax benefits. |
Strengthening Bilateral Ties | The UAE is increasing its investment in Africa, focusing on infrastructure, agriculture, and technology. There is growing momentum to sign Comprehensive Economic Partnership Agreements. |
Enhanced Credibility | UAE registration signals stability and trust to international investors who view the jurisdiction as more stable than some alternative markets. |
Lifestyle Benefits | Residency options include 10-year Golden Visas, retirement visas, employment visas, and student visas, making the UAE attractive for business owners and their families. |
Access to Global Events | The UAE hosts numerous international events annually – Gulfood, Arab Health, Arabian Travel Market, and the Annual Investment Meeting – creating platforms for networking with global players. |
Currency Stability | The UAE dirham is pegged to the US dollar at AED3.67/USD1, ideal for investment management and financial reporting. |
How to Establish a Business in the UAE: A Step-by-Step Guide
Choose your business activity and legal structure
Select your jurisdiction (mainland or free zone)
Register your trade name
Apply for initial approval
Draft your Memorandum of Association
Secure your office space
Obtain your trade licence
Open a corporate bank account
Apply for visas and residency
Other Key Considerations
Consideration | Insight |
Regulatory Requirements | Certain sectors require additional licenses beyond the standard Trade Licence. Understanding the UAE's legal framework is essential for a smooth setup. |
Market Entry Costs | While policies are business-friendly, initial setup costs can be significant in some sectors. Some activities require full office presence, while others do not. |
Cultural & Business Practices | Differences in business etiquette, cultural dynamics, and legal frameworks must be navigated and managed carefully. |
Conclusion
The UAE is not merely Zimbabwe's top export market – it is a powerful gateway for international business expansion. By studying the UAE's successful family business models, leveraging investment opportunities, and strategically establishing operations in the market, Zimbabwean enterprises can scale globally while optimising financial growth and sustainability.
Zimbabwean family businesses should seize this opportunity to establish a footprint in the UAE and position themselves for global success and longevity.
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