Published On: Wed, Aug 29th, 2018

UK aims to be biggest G7 investor in Africa

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UK UK Trade Minister, George Hollingbery

UK UK Trade Minister, George Hollingbery

CAPE TOWN, (CAJ News) – THE United Kingdom (UK) has set ambitions to be the largest G7 investor in Africa by 2022.

Prime Minister Theresa May announced the plan as part of a visit to promote economic ties with the continent.

The ambition was announced alongside a range of measures to boost trade between the UK and Africa and encourage UK investment in the region, including the creation of a new Africa Investors Board.

May is using her visit to South Africa, Kenya and Nigeria to set the stage for an Africa Investment Summit to be held in the UK in 2019.

The summit will bring together UK and African governments, alongside major international investors to grow awareness of opportunities on the continent and ensure progress toward the 2022 ambition.

Trade Minister, George Hollingbery, who is leading a business delegation as part of the Prime Minister’s visit, said, “The opportunities for the UK in Africa, with its young and dynamic population – set to make up a quarter of the world’s consumers by 2050 – are clear.”

He said UK wanted to deepen and strengthen partnerships with countries across Africa to ensure mutually-beneficial relations grew.

“British investors are already amongst Africa’s most prolific,” Hollingbery said.

“They are known and respected for the quality of their investments, the innovation they bring and their strong commitment to their local workforces.”

This week’s visit will ensure trade between the UK and African nations, which already worth more than £31 billion, continues to grow.
– CAJ News

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