Theresa May (Image: PA)
Britain has been slow to invest in sub-Saharan Africa, with exports lagging at about £13billion a year.
But last night British businesses heralded the “galvanising factor” that the visit to South Africa, Kenya and Nigeria will have in opening doors to the continent.
“We have the opportunity to secure great investment possibilities in subSaharan Africa,” said Tom Cargill, Africa expert with the BFPG think tank last night.
“Africa’s GDP is currently about $2trillion, but projected to grow to about $29trillion by 2050, by which time it will have a quarter of the world’s consumers.”
vCard.red is a free platform for creating a mobile-friendly digital business cards. You can easily create a vCard and generate a QR code for it, allowing others to scan and save your contact details instantly.
The platform allows you to display contact information, social media links, services, and products all in one shareable link. Optional features include appointment scheduling, WhatsApp-based storefronts, media galleries, and custom design options.
“If our exports to Africa could grow steadily in line with African growth they could be worth as much as £175billion by 2050.”
He said while British investment is “overdue”, the Chinese were already forging ahead.
Mr Cargill stated: “Since 2000 UK trade has grown by just one per cent a year while China and India have seen trade triple from £212bn to £621bn.
“But, while the Brexit debate has been raging, inside government there has been a lot more strategic thinking about how to reposition Britain globally than many people realise. And Africa will play a central role.
“The foundation has already been set by the number of British companies that already have strong ties in the region, which span back decades.”
“Britain has a good reputation for skills such as project management and architecture which even China, which is good at big infrastructure projects, struggles to match. He said the UK was looking to partner China “in some of these projects in the future”.
Cape Town (Image: GETTY)
One company to have benefited last week was Sheffield-based The Floow, that has developed software to help insurers review drivers’ performance.
From a fledgling seven workers in 2012, the firm now employees 100 software designers, has a US office and sells worldwide.
Last week it landed a £10million contract with South African financial services giant Liberty.
“We develop smartphone apps which collect data about drivers as they drive… We share that info with insurance companies, and the drivers are rewarded for good driving,” said chief operating officer David James.
He added; “We already had ties with South Africa. But being part of the UK delegation helped us to make fresh contacts in Kenya and Nigeria, too.”
His views were echoed by ADAS Horticultural, a research-based consultancy which uses its expertise to aid agriculture in Kenya.
The Leicestershire-based enterprise has developed ultra-violet technology to make plants resistant to disease and to avoid transport damage.
“The kind of technological advances we offer are vital to Kenya’s economy,” said director Barry Mulholland.
“More than 30 per cent of the roses we buy in the UK are from Kenya, and exports represent 1.5per cent of its GDP.
“A medium sized farm produces 350,000 rose stems a day and employs 4,000 staff. The farm will provide transport, some accommodation, medical and other support to workers.
“If we can develop new technologies and efficiencies in the supply chain, we can develop high-skill jobs for indigenous labour. It all helps Kenya meet its target of tripling the size of its horticultural export market.
He added: “What amazes me when I visit these farms is how well-informed all staff were about Brexit. There is a real appetite for stronger ties.”
Theresa May dancing (Image: PA)
Trade deals will also play an important role, according to International Trade Minister George Hollingbery: “We signed an agreement with the Southern African Customs Union and Mozambique which means we will be ready to carry over the EU’s Economic Partnership Agreement as soon as the EU deal no longer applies to the UK.
“We also announced that UK Export Finance has made an extra £5.5billion available to UK exporters and their African buyers to fund export deals.”
Other deals could be struck with the African Continental free Trade Area of 44 nations and 1.2 billion people, and the East African Customs Union.
Mr Hollingbery added: “The opportunities for British firms in Africa are fantastic and have massive benefits for people in the UK, whether it’s our firms winning export orders that create or safeguard jobs at home, or profit from investment.”