The co-founder of Chipper Cash, Ham Serunjogi, was asked why he wasn’t looking for donations or development funding when he first presented his idea to a venture capital firm.
People’s perceptions of African nations are inaccurate, out of date, and deteriorating over time.
With a bold trade strategy, the UK is responding to the continent’s success story by forging alliances with reliable allies in order to support the rules-based order.
It’s important to comprehend Africa’s needs and consider how our companies can meet them.
But it’s obvious that the world needs to become aware of Africa’s fresh and compelling story.
With the UK’s partnership with South Africa, new trade opportunities with one of the world’s most dynamic regions will be made available to UK companies.
Our investment in the Continent is valued at £49 billion, which is more than that of any other country, according to UNCTAD.
There are countless opportunities for collaboration; too many for me to discuss in this speech.
The need to guarantee free trade of goods and services between the UK and Africa forms the foundation of the UK-Africa trade partnership.
Returning to those remarkable demographics, the demand for goods and services in African countries will increase as their populations rise.
We saw an opportunity to deepen our knowledge of the aspirations of African nations and how we can meet those needs when the UK left the EU.
Only 15% of all trade on the Continent in 2019 was conducted between countries in Africa.
We are ardent supporters of the African Continental Free Trade Area because if the UK can be the partner assisting Africa on this new course, we too can develop alongside the Continent. Access to new markets can also really work in the UK’s favor.
Due to this, we will present two initiatives that we believe will help increase trade with Africa.
The UK and Africa are at a turning point in the history of international trade as the axis of global economic growth shifts in favor of emerging economies, like those in Africa.
We will commemorate the General Agreement on Tariffs and Trade’s 75th anniversary in October.