By Our Special Correspondent
London:
Prime Minister of UK is all set to launch a digital tool to connect businesses in UK and Africa with UK government’s department of trade, finance, investment services and other opportunities.
Known is ‘new Growth Gateway, the digital platform aims to provide platform to connect companies in Africa and UK with important government department to interconnect easily. Government authorities in UK said the digital platform will provide a medium to companies either in Africa or UK to access government offices and departments to get investment and trade opportunities.
Boris Johnson is expected to launch the digital platform at one-day event of UK-Africa Investment Summit being held in London Today. Second edition of UK-Africa Summit has attracted investors, entrepreneurs and, representations of the African governments and UK itself.
Amid peace and stability returning to Africa, world biggest economies like China, Russia, UAE and UK are eyeing to cash in on investment opportunities in Africa. London based financial experts said UK is planning to engage with African partners with great enthusiasm.
Following renewed interests of UK government in Africa, UK Export Finance — Britain’s export credit agency is steadily upping funds and grants meant for African market. Agency had sanctioned $817 million to support African markets in 2018-19. Following inauguration of Africa-UK summit held in London in 2020, UK government renewed its strategy towards its partners in Africa. UK Export finance jacked up support price to $3-13 billion for African markets in 2020-2021 upping from $817 million in 2018-2019 supporting a range of infrastructure projects in countries from Cote d’Ivoire to Uganda, the Department for International Trade said.
The UK is hosting an investment conference on Thursday to boost sustainable economic cooperation with African countries and to support the continent’s transition to clean growth.
UK Prime Minister Boris Johnson will open the one-day event, which will be attended by UK and African ministers, business leaders and and heads of international organizations.
The conference, in its second edition, aims to unlock millions of pounds of new investment, especially in clean energy industries in the UK and Africa.
“Two years on from the inaugural UK-Africa Investment Summit, the UK’s ambition to be Africa’s investment partner of choice has never been stronger,” said Secretary of State for International Trade Anne-Marie Trevelyan.
“This year’s conference focuses on the importance of resilient, sustainable investment to support Africa as it pivots toward a more environmentally friendly growth trajectory, and I look forward to working with leaders from the continent as they continue on this path to a greener future,” she added.
