UK hosts international investment conference

The UK is holding the second Africa Investment Conference today to boost environmentally friendly economic cooperation with African nations.

Secretary of State for International Trade Anne-Marie Trevelyan is hosting the one-day virtual event which aims to unlock millions of pounds of new investment, especially in clean energy industries in both the UK and across Africa.

The International Trade Secretary said: “Two years on from the inaugural UK-Africa Investment Summit, the UK’s ambition to be Africa’s investment partner of choice has never been stronger.

This year’s Conference focuses on the importance of resilient, sustainable investment to support Africa as it pivots towards a more environmentally friendly growth trajectory, and I look forward to working with leaders from the continent as they continue on this path to a greener future.“

Following the UK’s hosting of COP26 , this year’s conference will explore how investment can serve to help Africa’s transition to a cleaner and greener growth trajectory.

As a sign of the growing partnership between the two regions in the clean growth space, UK sustainable battery technology firm Aceleron has secured an investment deal with Mobility 54 Investment SAS, a subsidiary of Toyota Group, as part of its £5m Series A funding round to accelerate the development and use of sustainable batteries in Africa.

Alongside the environmental benefits, increased trade and investment with developing countries creates opportunities for UK firms and consumers - for example, lowering prices, and opening fast-growing markets for UK exporters.

To enhance UK-Africa partnerships, the UK is today launching a new Growth Gateway - a digital tool to link African and British businesses to UK Government trade, finance and investment services and opportunities.

The service provides practical online support to businesses in Africa that want to export to and invest in the UK, and businesses in the UK that want to export to and invest in Africa, backed up by a team of trade and investment specialists.

It follows an increased effort across government to facilitate UK-Africa trade, including that of UK Export Finance. The UK’s export credit agency has significantly increased support for markets in Africa in the past year from approximately £600m in 2018-19 to over £2.3bn in 2020-21, supporting a range of infrastructure projects.