UK to Host African Investment Summit in April

Ugo Aliogo

The UK Prime Minister, Rishi Sunak would host African leaders in London in the second UK-African Investment Summit expected to hold between April 23rd and 24th, 2024.

The summit is expected to build on the £6.5 billion deals and £8.9 billion investment commitments achieved at the 2020 summit.

A statement by the Senior Press and Public Affairs Officer, British Deputy High Commission, Lagos, Ndidiamaka Eze, stated that the summit aims to promote two-way trade and investment, creating jobs and growth and supporting women entrepreneurs.

The statement also noted that the announcement came as HM Revenue and Customs signed an MoU with the Federal Inland Revenue Service to help increase Nigeria’s domestic revenues.

It explained that the summit would bring together Heads of States and Governments from 24 African countries with British and African business leaders.

 It also noted that the summit would strengthen UK-African partnerships to create jobs and growth, supporting British and African talent in sectors such as finance and technology, and promote women entrepreneurs.

It further explained that the summit would build on the results of the UK-African Investment Summit 2020 and virtual UK-African Investment Conferences in 2021 and 2022.

It remarked that the UK-African Investment Summit 2020 marked an important milestone in the UK’spartnerships with African countries and announced over £6.5 billion of deals, plus a further £8.9 billion of investment commitments.

Prime Minister Rishi Sunak was quoted in the statement to have said: “To grow the UK’s economy, create opportunities for growth and bolster our economic security, we must deepen our ties with partners across the world.

“This summit will ensure we are able to harness the potential of our relationships across Africa and grow our economies together, making them stronger, resilient, and innovative.”

 The statement also revealed that by facilitating business-to-business links, trade opportunities and investment, UK-AIS would help harness this potential for the creation of mutual prosperity, economic growth, jobs and a global transition to green energy.

 Also, the Foreign Secretary James Cleverly said: “The UK’s trade and investment relations with countries right across the African continent are delivering significant mutual economic benefits to all of us.  Affirming the UK’s position as a leading investor in Africa, this second African Investment Summit in London will build on our successes since 2020 which have combined the strengths, innovations and expertise of the UK and our partners across Africa to support reliable, sustainable and long-term investment.  The UK and Africa go far when we go together.”