The Prime Minister of the UK has reportedly pledged an investment of £300 million across the African territory to develop essential infrastructure. According to sources, the announcement is a part of measures that aim to boost investment in business & infrastructure across the continent.
Prime Minister Theresa May reportedly made the announcement during her recent visit to the continent and expressed her ambition to make UK the biggest G7 investor in Africa by the year 2022.
The Department for International Development reportedly claims that the projects will help in laying down the bedrock for new trade and business opportunities throughout Africa, even in those regions where businesses would not have been able to thrive previously.
Apparently, the move aims to accelerate business between Africa and the UK and also encourages further investments from the UK in the region.
UK’s International Development Secretary, Penny Mordaunt has been quoted stating that the emerging African markets possess a huge untapped potential, however, they frequently suffer due to deficits in investment, jobs, and infrastructure. Mordaunt added that the UK government is rather proactive to bridge these gaps to drive business, expand trade, and reap benefits for the UK economy in the process.
Reportedly, the British government has not only committed to financial growth through investment specialists and trade experts but is also calling in family planning and health policymakers as well as climate researchers to work alongside their African counterparts to find solutions to the biggest challenges faced by the planet.
Sources cite that the British investors are already rated as some of the most prolific investors in Africa, particularly renowned for their quality of investment, level of innovation, and strong dedication to their local employees. The Prime Minister’s visit reportedly aims to bolster this reputation to ensure that healthy trade continues to gain ground in the future.