Britain wants to invest $ 1 billion in African infrastructure and finance in 2021

(Agence Ecofin) – A year after the African-British summit, the United Kingdom wants to intensify its investment in Africa delayed by Kovid-19. Through the CDC, one of its finance institutions, the country is already targeting areas in which it will invest in Africa as of this year.

The UK plans to invest $ 1 billion in 2021 in Africa through its Development Finance Institute, the CDC Group. The institution’s director general, Nick O’Donhoe (photo), announced this in an interview. Bloomberg.

According to the official, the investment concerns the infrastructure and finance sectors. They will primarily target countries such as Nigeria, Kenya, Egypt or Ethiopia where the institution declares Be in talks to get A mobile telephony license in partnership with Vodafone Group PLC and Sumitomo Group under the program of partial privatization of the economy initiated by Addis Ababa.

The announcement comes a year after the organization of the first Africa-United Kingdom summit, which strengthened its ties with its partners on the London continent to strengthen several investment promises and commercial partnerships.

In 2018, Queen Elizabeth’s country announced its intention to become the first investor in G7 countries in Africa by 2022. This ambition, set in the midst of the Brexit process, has the backing of the government which has already started a process of trade agreements.

See also  British version spreads quickly: number of infections with mutated virus in France - Knowledge

« Two areas that we will be focusing specifically on this year are the acceleration of our climate-related investments and Technology Nick O’Donohoe said. According to the data, the CDC has already invested $ 3.7 billion in Africa in the last three years.

It should be noted that this announcement also marks the gradual return of foreign direct investment (FDI) in Africa, after a year marked by the Kovid-19 epidemic that has led to a historic decline in its economy.

« Investment in health will be given greater attention, and governments will obviously have to pay a part of it Mr. O’Donohue said, “” The private sector will play a greater role »

Matiyou Adjibi Naurou

You May Also Like

About the Author: Forrest Morton

Organizer. Zombie aficionado. Wannabe reader. Passionate writer. Twitter lover. Music scholar. Web expert.

Leave a Reply

Your email address will not be published. Required fields are marked *