Last updated on September 5th, 2018
Theresa May is to announce plans to boost Britain’s investment in Africa post Brexit, on her first trip as Prime Minister. In a speech later, Mrs May will also ensure that she is “unashamed” about the fact that Britain also benefits from its aid and spending.
Besides, May has also played down on the warnings of any financial pressure from Chancellor about the economic damage, which a no-deal Brexit could cause. The Prime Minister will also visit Nigeria and Kenya in her three day trade mission. The trip’s major focus will be to meet the presidents of all three countries, and deepen the economic and trade ties with growing African economies. The major reason for which, is Britain’s exit from European Union in 2019.
Further, as Theresa May arrives on the African soil Tuesday Morning, she will anticipate about her bid to overtake the US, and become the G7’s biggest investor in Africa by 2022. Besides, briefing about her “ambitious new approach” to the UK’s aid spending in Africa, by means of helping the British private sector companies in the continent.
As per Theresa May private sector plays a major role to any economy and thus is a catalyst promoting the ease of doing business.
Therefore, the Prime Minister is likely to speak up about the matter and give assurance about unleashing the entrepreneurial spirit in Africa.
Also, a closer look at any economy reveals what it most requires in its ode to progress and grow with the trends. Thus, keeping the African trends in mind, May will supposedly speak about creation of employment opportunities in Africa, explaining how employment will counter extremism, instability and migration to Europe.
The resources are huge in the land of Africa and the western economies are certainly feeling the need to invest in big numbers. Also, with the first mover advantage, May can ensure that she successfully taps in all the possible strategies and capture the resourceful land of Africa.