Unlocking the UK- Africa Trade Partnership:
A is for AfCFTA: The African Continental Free Trade Agreement (AfCFTA) creates the largest free trade area by number of participating countries, a combined market size greater than £2.3 trillion and access to consumer spending of £5.3 trillion. AfCTFTA provides UK companies an opportunity to trade with all 54 markets in the region, including high-growth markets where there is a high demand for UK goods and services
B is for BREXIT: The UK Government aims for the UK to be the ‘investment partner of choice’ in Africa and has an objective to become the largest G7 investor in Africa by 2022. As the United Kingdom prepares to exit its membership from the European Union, the UK has ensured that businesses from 46 African countries can continuing export to the UK paying reduced on zero tariff rates, and is working to finalise the remaining continuity agreements over the coming months
C is for COVID-19: In a Post-COVID world it is imperative that the UK continues to promote and develop trade relationships with African countries for its own and Africa's economic recovery. In 2019 eight of the fifteen fastest growing economies were located in Africa. In the year 2050 1 in 4 consumers will be situated in Africa. It is is important that the UK and Africa capitalise on long-standing existing ties for a fruitful and prosperous partnership
Supported by both UK and African public sector organisations, ‘Unlock Africa’ is at the heart of Africa House London’s mandate to create direct trade for sustainable wealth between the UK and African countries.
In a Post-Brexit and Post COVID-19 landscape, ‘Unlock Africa’ has been specifically designed to allow UK and African businesses trade more effectively with each other, and will provide support, information and dedicated resources to provide ease of access to new business partners whilst mitigating any potential risks when trading overseas.
Access to consumer spending of 5Tn+
By 2050 25% of all consumers will be from Africa
African countries are spending 20bn on infrastructure projects yearly
60% of Africa's total population are aged below 25