Browsing: Africa/UK Trade

• The AIS 2024 will build on the £6.5 billion deals and £8.9 billion investment commitments achieved at the previous summit held in 2020.
• Around two billion people under 25 will live in Africa by 2050.
• 22% of Africa’s working-age population is starting businesses representing the highest entrepreneurship rate in the world.

The UK Prime Minister announced that London will host the African Investment Summit on 23rd-24th April 2024. This initiative aims to benefit Africa and the UK economies by tapping into Africa’s innovative and entrepreneurial minds.
The AIS is a prominent event hosting 24 Heads of State from African countries with British and African Business leaders.

The UK-African Investment summit in 2024

Africa has made significant economic and technological growth strides in the last decade. Today, Africa is renowned as an adequate investment opportunity for those seeking to make billions. The continent hosts seven startups that have attained the stats …

UK Prime Minister Boris Johnson said that British businesses would support Africa to flourish with the green industrial revolution. The irony of this is that the UK hosted COP26 in Glasgow last November. The outcomes were disappointing for Africa which suffers the brunt of climate change.
While partnerships are necessary for development, the type, objectives, and interests of the participants are critical elements in deciding the outcome. Africa’s interests have always come last.
The partnerships for development are essential to addressing Africa’s development issues and trade growth. But there are too many conditions, usually. These include impositions in development cooperation for Africa. …

British insurance company Prudential plc has submitted a letter of Intent to apply to join the newly established Nairobi International Financial Centre (NIFC).

In a statement, the company says the application will position it as one of the NIFC’s anchor clients and support the deepening of Kenya’s financial services landscape.

The letter was submitted at a high-level roundtable at The Mansion House in the City of London, attended by President Uhuru Kenyatta, UK Foreign Secretary Dominic Raab, Kenyan Treasury Cabinet Secretary Ukur Yatani Kanacho, UK Minister of State for Africa James Duddridge, the UK Economic Secretary to the Treasury John Glen, the Lord Mayor of the City of London William Russell and Chairs and CEOs of leading UK financial institutions.

Ukur Yatani, Cabinet Secretary National Treasury & Planning said through collaboration with partners like the CityUK, the NIFC will attract increased investment and financing into the country,

“This will not …

The UK and European Union are currently in the final stages of negotiation on the terms of their ‘divorce’. The talks have been characterized by a lot of talking, sulking, walk-aways, and renegotiations. It remains to be seen if the process will end in a deal or no deal as to the terms of trade. While the bickering goes on between the ‘parents’, it raises the issue of what will become of the ‘children’ after the break-up.  

The European Union is one of the major trading partners on the African continent. Countries like South Africa are the largest beneficiaries of this trade. Trade arrangements with the UK were initiated within the auspices of the European Union. As the UK sets out on a solo mission, what will become of these deals?  

According to forecasts by the London School of Economics, if the trade deal falls through, the UK would make …