UK-Africa Investment Summit 2020

Following Boris Johnson and the Conservative Party’s successful election in December 2019, the Prime Minister delivered his administration’s first key statement on Africa on the 20th of January 2020, at the UK-Africa Investment Summit held in London. With the UK set to leave the EU on the 31st of January 2020, Britain will no longer be tied into the terms of the EU’s EPA. The African continent is facing growing demand for investment and the UK is set to meet this demand. The UK has set the target of investing $2.6 billion worth of investments into African businesses over the next two years, which will be funded by the UK Department for International Development. There was also a major focus on infrastructural development, with the UK eager to help bridge Africa’s infrastructure gap. Poor infrastructure has been identified as a major barrier to foreign investment within Africa; and the UK will launch a new partnership with the African Development Bank which will focus on Africa’s infrastructure problem. With the UK committed to funding various sectors and businesses within the African economy, the future of UK-Africa trade relations looks bright as the inflows of British investment for the African economy target development projects across the continent as a whole.

Sources: