‘UK is Africa’s investment partner of choice for Green Transition’

The United Kingdom Trade Secretary, Anne-Marie Trevelyan, has said Africa is investment partner of choice for Green Transition.

According to a statement, yesterday, Trevelyan, who hosted a one-day virtual event, which aimed to unlock millions of pounds of new investment, especially in clean energy industries in both the UK and across Africa, said: “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. The continent has huge economic potential, and our continued partnership will help businesses capitalise on investment opportunities, supporting high value jobs and boosting enterprise in every part of the UK.

“This year’s conference focuses on the importance of resilient, sustainable investment to support Africa as it pivots towards 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.”

In a ‘virtual fireside talk’ with World Trade Organisation (WTO), Director-General, Dr. Ngozi Okonjo-Iweala, the Trade Secretary said sustainable trade and investment are crucial for reducing global inequality, improving economies, raising incomes and creating jobs.

Contributing, Acting Trade Commissioner (HMTC) for Africa, Alastair Long, said in 2020, at the UK-Africa Investment Summit, the Prime Minister set out the UK’s ambition to be Africa’s investment partner of choice.

“Two years on from the UK-AIS, we continue to bring life to this ambition. Last year, we launched an online Investment Deal Room to provide a platform for African projects to be showcased to UK investors. The Deal Room has already published over £350 million of vetted and investable opportunities to date.

“Clean growth is at the heart of the UK’s trade agenda, and with Egypt hosting COP27, the second Africa Investment Conference is an opportunity to explore inclusive, sustainable and resilient investment opportunities that can serve to help Africa transition to a cleaner and greener growth trajectory.”

Following the UK’s hosting of COP26, this year’s conference explored how investment can serve to help Africa transition to a cleaner and greener growth trajectory.

As a sign of the growing partnership between the two regions in the clean growth space, UK sustainable battery technology firm, Aceleron, has secured an investment deal with Mobility 54 Investment SAS, a subsidiary of Toyota Group, as part of its £5 million Series A funding round to accelerate the development and use of sustainable batteries in Africa.

As a priority market and investment partner, Nigeria showcased three projects to potential investors: the Eko Atlantic Group showcased their planned development covering infrastructure, healthcare, education and tech; Lagos State Waterways Authority discussed utilising Lagos waterways (for passenger and freight transport) and; the project developers for the 255 hectare Abuja Industrial Park Project highlighted opportunities for manufacturing, agricultural and consumer goods distribution companies and their plans to create 40,000 new jobs.

To enhance UK-Africa partnerships, the UK launched on January 22, a new Growth Gateway – a digital tool to link African and British businesses to UK government trade, finance and investment services and opportunities.

The service provides practical online support to businesses in Africa that want to export to and invest in the UK, and businesses in the UK that want to export to and invest in Africa, backed up by a team of trade and investment specialists.