British PM to host first ever UK-Africa Investment Summit in London

The UK Prime Minister Boris Johnson will host African countries for UK-Africa Investment Summit in London on January 20. This is also the first time governments and businesses of both countries will come together for an event of this scale. According to the statement released by Downing Street, Johnson will make a case for the UK as the 'investment partner of choice' for African countries at the summit where he will meet 16 African leaders from 21 countries.

The first UK-Africa summit is planned just two weeks before Britain leaves the European Union on January 31 and follows a tour of sub-Saharan Africa made by former Prime Minister Theresa May which was also the first by a British leader in five years. The leaders who will be attending the summit include presidents Abdel Fattah al-Sisi of Egypt and Uhuru Kenyatta of Kenya, Nigerian President Muhammadu Buhari and Ghanaian leader Nana Akufo-Addo. According to the UK PM's office, the summit will generate new opportunities in Africa for businesses across the UK. 

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'Deals worth billions' will be signed

Furthermore, it is expected that 'deals worth billions of pounds' will be announced at the Summit. The same deals will drive jobs and growth in all parts of Britain and Africa to benefit the range of companies. Johnson will also announce an 'end to UK support' for thermal coal mining or power plants. This announcement, according to Downing Street will help Africa's transition to renewable sources. 

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Downing Street said in a statement, “At the Summit, the Prime Minister will announce an end to UK support for thermal coal mining or coal power plants overseas, ending direct Official Development Assistance, investment and export credit.  This announcement forms part of the UK’s wider commitment to use its expertise and experience to help Africa transition away from fossil fuels towards renewable, sustainable forms of clean energy.”

Johnson will also visit the Summit’s ‘Business and Innovation Hub’, where he is scheduled to meet young entrepreneurs from the UK and Africa. On the evening of January 20, British PM, African Heads of State and Government along with a number of British and African leaders will attend a reception at Buckingham Palace hosted by Duke of Cambridge.

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