UK investment in Africa will lag international rivals
Thursday, February 13, 2020
Subject
UK-Africa trade, investment.
Significance
London on January 20 hosted its first ever UK-Africa Investment Summit. The flagship meeting was the first time UK and African business and government leaders had been brought together on such a scale -- even though not all African states were invited -- and was billed as early evidence of the UK government putting its ‘Global Britain’ agenda into practice as it embarks on its post-EU future.
Impacts
- London’s aim to be the leading G7 investor in Africa by 2022, announced by then-Prime Minister Theresa May, appears to have been shelved.
- Despite talk of increasing renewable energy investments, these will remain a small portion of UK investment in Africa over the short term.
- UK-Africa trade relations will be shaped by the future direction of the EU’s relationship with African, Caribbean and Pacific (ACP) states.
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