British firms sign new deals with Nigeria companies, others

British firms have announced commercial deals worth over £6.5 billion across the African markets. This was disclosed at the opening of the UK-Africa Investment Summit in London on Monday.

In a press release issued by the U.K government, the commercial deals span a variety of sectors including infrastructure, energy, retail, and technology, and will deliver high-quality investment, jobs, and growth across the United Kingdom (UK) and Africa.

At the UK-Africa Investment Summit, 27 deals were announced, adding to the existing £36 billion worth of trade already happening between the UK and African firms.

According to the U.K Department for International Development and Trade, the diverse and fast-growing economies of Africa offer huge potential to UK business. Over £36 billion worth of trade is already happening between the UK and Africa, and the deals revealed how the duo are building on that to secure a lasting commercial partnership of mutual benefit.

Speaking on the deal, Secretary of State for International Trade, Liz Truss, MP said Africa represents a huge opportunity for UK businesses, so it’s brilliant to see so many British firms paving the way in trading and investing in the region today to drive growth, create jobs and boost vital infrastructure.

“We want the UK to be the investment partner of choice for African nations, and our world-leading expertise in finance, tech, and innovation, makes the UK and Africa natural partners for prosperity.

“We want the UK to be the investment partner of choice for African nations, and our world-leading expertise in finance, tech, and innovation, makes the UK and Africa natural partners for prosperity.

“The deals announced today show the massive potential of UK-Africa trade and the programs we’ve announced will be critical to ensuring the UK and African businesses are able to capitalise on trade and investment opportunities, now and in the future,” he added.