British Prime Minister Theresa May announced a new ambition to boost investment in Africa at a news conference in Cape Town on Tuesday (August 28).

May said she wants Britain to become the biggest investor in Africa out of the G7, overtaking the United States, by using the aid budget to help British private sector companies invest on the continent.

She said, “That is why I want to create a new partnership between the UK and our friends in Africa. One built around our shared prosperity and shared security. As prime minister of a trading nation, whose success depends on global markets, I want to see strong African economies that British businesses can do business with, in a free and fair fashion.

Whether through creating new customers for British exporters, or opportunities for British investors, our integrated global economy means healthy African economies are good news for British people as well as for African people. That’s why I’m delighted that we will today confirm plans to carry over the European Union’s economic partnership agreement with the Southern African customs union and Mozambique, once the EU’s deal no longer applies to the UK.”

She also said that Britain supports South Africa’s land reform program, provided it is carried out legally, adding that she would discuss the topic with President Cyril Ramaphosa later in the day.

 May, battling to unite her divided party over her plan to take Britain out of the European Union, will also visit Nigeria and Kenya as part of a three-day visit to Africa alongside a group of business delegates.


SOURCE:The Africa Report

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