APA-Banjul (The Gambia) The UK-Africa Investment Summit (UK-AIS) which was scheduled to take place in April 2024 has been postponed to a later date, according to a statement from the UK government on Wednesday.
New summit dates will be announced in due course, the statement adds.
The UK government said it remains committed to building on the success of the 2020 UK-Africa Investment Summit, which laid the foundations for new partnerships between the UK and countries in Africa based on trade, investment, shared values and mutual interest.
”This includes by ensuring attendance from governments across the continent, as well as British and African businesses eager to harness the benefits of our trading relationship” the statement indicates.
It says the next UK-AIS will help to realise the UK’s ambition to be the investment partner of choice for Africa, create thousands of jobs and ensure the mutual prosperity.
The summit is aimed at strengthening UK-African bonds to create jobs and growth, supporting British and African talent in sectors such as finance and technology and promoting female entrepreneurs.
Ahead of the summit, the UK says it is working to enhance trade and investment links with African countries through the Africa Continental Free Trade Area (AfCFTA), which offers the prospect of growth through improved intra-African trade and investment opportunities.
It is also looking to take advantage of the UK’s Developing Countries Trading Scheme (DCTS), which entered into force in June 2023 and has increased UK market access for 37 African countries
The UK also says it is supporting the British International Investment (BII), which has more than half of its portfolio in Africa, where it committed nearly £700 million of investment in 2022.
WN/as/APA