The conference hopes to attract millions of pounds in new investment, particularly in clean energy industries in the United Kingdom and Africa.
Britain will introduce a digital tool that will connect African and British businesses with the UK government.
The United Kingdom will host an investment conference to promote long-term economic cooperation with African countries and to aid the continent’s transition to clean growth.
The one-day event, which will be attended by UK and African ministers, business leaders, and heads of international organisations, will be opened by UK Prime Minister Boris Johnson.
The conference, in its second year, aims to attract millions of pounds in new investment, particularly in clean energy industries in the United Kingdom and Africa.
“Two years on from the first UK-Africa Investment Summit, the UK’s goal to be Africa’s preferred investment partner has never been stronger,” said Anne-Marie Trevelyan, Secretary of State for International Trade.
“This year’s conference focuses on the importance of resilient, sustainable investment to support Africa as it pivots toward a more environmentally friendly growth trajectory, and I look forward to working with African leaders as they continue on this path to a greener future,” she added.
During the conference, the United Kingdom will unveil a new Growth Gateway, a digital tool that will connect African and British businesses to UK government trade, finance, and investment services and opportunities.
UK Export Finance, the UK’s export credit agency, has increased its support for African markets in the last year, from around £600 million ($817 million) in 2018-19 to more than £2.3 billion in 2020-21, supporting a variety of infrastructure projects in countries ranging from Cote d’Ivoire to Uganda, according to the Department for International Trade.
Vicky Ford, the Minister for Africa, stated that the UK is “deepening its economic ties with African nations” and that “there is a lot more that can be done,” adding that “Growth Gateway will make it easier than ever for African and British businesses to access the support they need to boost two-way trade and investment.”
This year’s conference follows Britain’s hosting of the UN Climate Change Conference, COP26. Over the next five years, the country hopes to build on its commitment to provide £11.6 billion through its International Climate Finance programme to assist developing countries in combating climate change.
More than 2,800 delegates from more than 40 African countries attended last year’s virtual conference. 27 trade and investment deals worth £6.5 billion were announced across the UK, on top of further commitments worth £8.9 billion.
