UK Prime Minister Theresa May said on Tuesday in Cape Town she would like the United Kingdom to become G7's largest investor in Africa by 2022.
MOSCOW (Pakistan Point News / Sputnik - 28th August, 2018) UK Prime Minister Theresa May said on Tuesday in Cape Town she would like the United Kingdom to become G7's largest investor in Africa by 2022.
Earlier on Tuesday, May arrived in Cape Town to begin her African tour.
"I can today announce a new ambition: by 2022, I want the UK to be the G7's number one investor in Africa, with Britain's private sector companies taking the lead in investing the billions that will see African economies growing by trillions," May said, according to the transcript of the speech published by the UK government.
The prime minister stressed London's position as a "global hub for international investment" and its success in terms of science and technology, as well as UK companies' compliance with law, which made the country a valuable investment partner.
"To help bring those investments about, I can today announce an additional 4 billion Pounds [about $5.6 billion] programme of UK investment in African economies that will pave the way for at least another 4 billion pounds of private sector financing," May added.
According to the prime minister, this program includes the UK government's Development Finance Institution, CDC's, plan to invest 3.5 billion pounds in African countries in the next four years.
The UK prime minister said she wanted "a new partnership between the UK and our friends in Africa, one built around our shared prosperity and shared security."
May emphasized the links between the African and UK security and reiterated call for Africa to be permanently present in the UN Security Council.
"I'm all too aware that our domestic security is reliant on stability worldwide, not just in our immediate neighbourhood. From reducing drivers of illegal migration to denying refuge to terrorists who would strike our shores, in 2018 African and British security are inextricably linked and mutually dependent. That's one of the reasons why I continue to support calls for a permanent African presence on the UN Security Council," May said.
The United Kingdom has signed "a Joint Statement with South Africa, Mozambique, Botswana, Namibia, Lesotho and Eswatini" to ensure uninterrupted trade after Brexit, May said at a press conference with President of South Africa Cyril Ramaphosa.
"This important step will provide the strong foundations on which we can build a closer trade and investment partnership in the future that brings even greater benefits for both sides," the UK prime minister said.
May added that the United Kingdom was supportive of South Africa's ambition to attract investment in the country and wanted UK companies to help reach South Africa's objectives.
"The UK has long been the biggest investor in South Africa, and is the second biggest investor across Africa," May pointed out.
The UK prime minister is also expected to visit Kenya and Nigeria.
