Trade between the United Kingdom and Africa in 2018 reached £33 billion, the African Development Bank (AfDB) announced.
“Africa and the United Kingdom are long-standing partners. In 2018, the value of trade was over £33 billion,” the AfDB said in a statement on the occasion of the Africa-UK summit on 20 January, adding that nearly 2,000 British companies are currently operating in Africa.
According to the banking institution, Africa’s exports to the United Kingdom amounted to £17 billion in 2016, against £16.7 billion in 2015.
“Among the main African exporters to the UK in 2016 was South Africa, which alone accounted for 58 percent of total exports, followed by Nigeria 7 percent, Algeria, Morocco and Egypt, with 5 percent each,” the statement added.
The Africa-UK summit, which brings together some 20 African countries and 15 heads of state in London, is expected to explore new prospects for bilateral trade and the growing interest of British investors in Africa.
“The UK-Africa Investment Summit is a unique opportunity to increase investment and trade opportunities between the two sides,” the African Development Bank said.
Convened by UK Prime Minister Boris Johnson, the summit aims to forge new partnerships with African countries.
To this end, it focuses on the theme: “Partners for Prosperity.”
TE/lb/as/APA