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UK-Africa Investment Summit pitches for boosting business ties

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  •    British Prime Minister Johnson makes a clear pitch for the expansion of  business ties between the UK and Africa.
  • UK would be more open to migrants from their continent after Brexit

Speaking at the first UK-Africa Investment Summit in London, British Prime Minister Johnson made a clear pitch for the expansion of business ties between the UK and Africa.  Just a fortnight away from Brexit, Boris Johnson told African leaders that UK would be more open to migrants from their continent after Brexit as it would mean an end to preferential treatment for EU migrants. Brexit would mean, he added, that British immigration system will become fairer and more equal” by ‘putting people before passports’.

 He also promised to support Africa in switching to low-carbon energy sources and end UK state investment in thermal coal mining or coal power plants. He urged African Leaders to treat Britain as their “investment partner of choice”.

Speaking on the occasion, Nigeria’s President Muhammadu Buhari, observed that Brexit offered an opportunity for increased free trade across the Commonwealth and hoped that the binding commonwealth ties and concerted efforts to grow the links trough more trade will contribute substantially to UK-Africa business ties.

According to official sources, the London summit will see British and African firms announce commercial deals worth £6.5 billion. The British government’s export agency that  extended £2 billion ($2.6 billion) in financing for UK company exports to Africa in the past two years has stated that it plans to “increase its risk appetite” in Egypt and the emerging economies in Nigeria and Rwanda.

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