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Business and Development

Britain Makes Fundamental Shift In It’s Africa Investment Strategy



British Prime Minister Theresa May meets with South African President Cyril Ramaphosa in Cape Town, South Africa, during a three-nation visit to Africa. May has promised to boost Britain’s investment in the continent.

British Prime Minister Theresa May said she will make major investments in Africa. While on a three-day tour of the continent, May pledged 4 billion pounds ($5.1 billion) of support for African markets. May’s goal of deepening trade ties with Africa, the world’s second most populous continent, comes ahead of Britain’s departure from the European Union next year.

Britain’s post-Brexit goal is to “strengthen its global partnerships,” May said in a statement. “This week I am looking forward to discussing how we can do that alongside Africa to help deliver important investment and jobs as well as continue to work together to maintain stability and security.”

Britain’s direct investment in Africa will mark a fundamental shift in focus from short-term poverty reduction to long-term economic growth. May said the U.K. will treat African nations as “equal partners” and help British companies boost trade with countries such as Cote D’Ivoire and Senegal.

'True partnerships are not about one party doing unto another, but states, governments, businesses, and individuals working together in a responsible way to achieve common goals' - Theresa May, Cape Town Click To Tweet

What Theresa May’s Speech Here

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