London, United Kingdom, January 31, 2024 – The eagerly anticipated UK-African Investment Summit (UK-AIS), originally slated for April 2024, has been postponed, and new summit dates will be disclosed in the coming weeks. The decision to reschedule does not dampen the UK government’s unwavering commitment to fortifying ties between the United Kingdom and African nations, fostering trade, investment, shared values, and mutual interests.
Following the success of the 2020 UK-Africa Investment Summit, which laid the groundwork for transformative partnerships, the upcoming summit aims to build on these achievements. The UK government remains dedicated to facilitating the participation of governments from across the African continent, as well as British and African businesses eager to capitalize on the benefits of the burgeoning trading relationship.
The forthcoming UK-AIS seeks to realize the UK’s aspiration to become Africa’s preferred investment partner, with the overarching goal of generating employment and ensuring the shared prosperity of all nations involved. The summit will be instrumental in:
Strengthening Partnerships: Facilitating collaborations between the UK and African nations to spur job creation and economic growth.
Supporting Talent: Nurturing British and African talent in crucial sectors such as finance and technology.
Empowering Female Entrepreneurs: Promoting and supporting female entrepreneurs to contribute actively to economic development.
In the lead-up to the summit, the UK is actively engaged in fortifying trade and investment links with African countries through initiatives such as:
Africa Continental Free Trade Area (AfCFTA): Backing the AfCFTA to stimulate growth through improved intra-African trade and investment opportunities.
Developing Countries Trading Scheme (DCTS): Implemented in June 2023, this scheme has expanded UK market access for 37 African countries, fostering increased economic collaboration.
British International Investment (BII): With over half of its portfolio dedicated to Africa, BII committed nearly £700 million in investments to the continent in 2022, underscoring the UK’s commitment to fostering economic development in the region.
While the specific dates for the rescheduled summit are yet to be announced, the UK remains resolute in its commitment to nurturing a flourishing partnership with African nations, embodying a shared vision of prosperity and mutual benefit.
