UK signs African trade agreements ahead of Brexit

The UK government has signed 11 trade agreements with African countries, with just over a week to go before it officially leaves the European Union. 

The Department for International Development characterised the move as using aid money to support investment. The ministry says it is focusing on digital technologies, green energy and female entrepreneurs. 

Alok Sharma, the Secretary of State for International Development, described how Britain’s new relationship with Africa would be “turbo charged” after it’s departure from the EU.

The government is expected to unveil its new strategy for development in Africa later today, with a major emphasis being placed on infrastructure and trade.

Over a dozen African leaders are in London for a summit aimed at boosting the UK’s private sector investment on the continent. UK businesses are reported to have already signed deals worth more than £6bn, with more expected during the course of the summit. 

Africa has a rapidly growing population, with one in four new births expected to come from the continent by 2050. The continent is also home to some of the world’s fastest growing economies, including Guyana, Ethiopia and Rwanda. Both these factors have boosted Africa’s profile as an attractive market for long-term investors. 

At present the UK’s top trading partners on the continent are South Africa, Nigeria, and Egypt, with over £11bn of trade between them.

Photo credit: Vanguard News