Theresa May signs £300 million trade deals with Africa

Sep 03, 2018 | Ecofin Agency

During UK prime minister Theresa May’s African tour this week, £300 million investments treaties were signed, Downing Street indicated in a release published on the government’s website on 30, August 2018.

According to information published in this release, the amount will be invested in many sectors and help create more than 3,000 jobs in African countries, namely South Africa, Kenya and Nigeria. These agreements announced as prolific in terms of job creation and revenues generation is above all the first step of the UK’s strategy to conquer the African market during Brexit times. “The deals being announced today demonstrate the already close trade and investment links between the UK and African countries, and the potential that exists for other UK businesses to make the most of the growing opportunities on the continent”, the prime minister indicated adding that her country plans to increase exports to the continent. The prime minister, who announced recently the UK’s intention to be Africa’s leading trade partner among the the G7 countries by 2022, expects to boost trade relations with the continent. Let’s note that according to official figures, this trade reached £31 billion in 2017. Source: Ecofin Agency