Ver Angola

Economy

UK Secretary of State highlights Angola's economic and investment potential

The British Secretary of State for Africa, Andrew Stephenson, highlighted this week, during a visit to Angola, the economic potential and interest of the United Kingdom in increasing investment in Angola.

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During a two-day trip, which ended on Wednesday, but whose result was only announced this Friday, Andrew Stephenson met with the Minister of Finance, Vera Daves, and the governor of the Central Bank of Angola, José de Lima Massano.

According to a statement, the Secretary of State also went to see the work of British companies operating in the country, namely Aggreko, which is based in Glasgow, Scotland.

This company currently supplies power generators and is studying the introduction of solar powered equipment in Angola.

"I am proud of British companies like Aggreko that are leading the way in investing in Africa by improving access to clean energy and helping to drive growth and create jobs," he said in a statement.

The visit precedes the United Kingdom-Africa Investment Summit, which will take place in London on 20 January and will be chaired by British Prime Minister Boris Johnson.

The aim of the event is to show examples of more than two thousand British companies operating in Africa, whose investment is estimated at 38 billion pounds (49 billion dollars) to promote more opportunities and partnerships.

Political leaders, business leaders and leaders of multilateral organisations were invited and South African President Cyril Ramaphosa and Egyptian President Abdel Fattah el-Sisi and Mauritius Prime Minister Pravind Jugnauth have already confirmed their presence.

The secretary of state stressed that "Africa is home to eight of the 15 fastest growing economies in the world, according to the latest estimates, and we want the UK to be the preferred investment partner for African nations".

The British government wants to make the UK the largest foreign investor in Africa by 2022 among G7 members, which also includes Canada, France, Germany, Italy, Japan and the United States.

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