The UK hosted the UK–Africa Investment Summit in London on 20 January 2020. Building on UK-African ties as the new Brexit deadline approaches would create the groundwork for alliances that will fuel job creation and economic growth in both nations.
Department for International Trade (DIT) Minister of State Conor Burns MP, Future ties for Morocco and the United Kingdom hailed:
We all know about the amazing opportunities emerging in Africa. Africa has a young and rapidly growing population.It is home to 8 of the 15 fastest growing economies.
Burns went on to explain that by 2050 there will be over 2 billion people living in Africa, and 1 in 4 global customers will be African.
It is a market we cannot and must not ignore.
he said, the UK's need to create new and sustainable alliances as it leaves the EU tends to be emphasised.
Familiarity is important in business. Contacts are crucial. They give us information, they build trust, they create opportunities. That is why today’s event is so important
I like British businesses to include Morocco while designing their export plans.
I want to talk about the UK as Moroccan companies are looking for new partners and skills. I like Moroccans and Britons to look at each other's flags as price hallmarks whenever they see them. And as I talk, we create the foundation for that shared vision
A number of steps have been taken to start building ties between the two countries. A memorandum of understanding (MOU) was concluded between Reigate Grammar School of the UK and the British International School Partners of Morocco prior to the event. In addition, Coventry University has signed an MOU with the Superior Institution of Science & Technology (worth £ 14mn), which will assist in the development of joint educational facilities and programs on teacher training, research and staff and student mobility.
Most significantly, the UK Development Finance Corporation, CDC, has invested US$ 200million in BMCE-Bank (which is now rebranding The Bank of Africa) in an effort to encourage financial inclusion in Africa. According to Burns this is the biggest investment in the country.
Let's welcome the possibilities that lie ahead and build our connections, reinforce our links and improve people's future success in Morocco and the UK.
Shadrach is a Trending Journalist. His first job was as a newsreader and journalist at an award winning magazine. He spends most of his time scouring the internet for the hottest topics to share with his readers.