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Theresa May promises to boost investment in Africa after Brexit



  Theresa May meets students and staff at I.D. Mkize Secondary School in Cape Town, which is connected to Whitby High School in Yorkshire

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PA

Caption

At the beginning of their trip, the Prime Minister met pupils from a school in Cape Town

Theresa May has announced plans to strengthen Britain's investment in Africa after Brexit during her first trip to the continent as Prime Minister.

In a speech in Cape Town, she pledged 4 billion pounds to help African jobs for young people.

It also pledged a "fundamental shift" in development assistance to focus on long-term economic and security challenges rather than short-term poverty alleviation.

She will also visit Nigeria and Kenya during the three (1

9659007) On her way to South Africa, the Prime Minister also played warnings from the Chancellor of the economic damage that a no-deal Brexit could cause.

Speaking to journalists aboard RAF Voyager on Tuesday morning, Ms. May reiterated that she believed a no-deal Brexit was still better than a bad deal – adding no-deal would be "not the end of the world ".

Last week, Chancellor Philip Hammond warned in a letter that a no-deal Brexit could harm the economy.

Ms. May's journey – with which she will meet the presidents of all three countries – aims to deepen economic and trade relations with African economies before Britain leaves the EU in 2019.

Arriving in South Africa on Tuesday morning, Ms. May said she wanted Britain to overtake the US to become G7's largest investor in Africa by 2022.

It promises an additional government investment of £ 4bn, which it expects to be supported by the private sector Britain has been unable to keep up with the "economic power" of some foreign investors – such as China or the US offered a unique "high quality and breadth" of investment.

Defending UK aid spending in Africa, a target of criticism from some Tory MPs, she said it "worked" to educate millions of children and women and to immunize millions against deadly diseases.

But she said she was "ashamed" of having to work in Britain's own interest and in the future undertook a new approach aimed at helping UK private companies move to fast-growing countries such as Cote D & # 39; Ivoire and Senegal to invest and support countries like Chad. Mail and Niger on the "Frontline of Instability"

In 2016, the UK's aid budget was £ 13.9 billion, an increase of £ 555 million in 2016.

FDI in Africa was £ 4 million in 2016 42.7 billion. compared to 44.3 billion from the US, 38 billion from France and 31 billion from China, according to the United Nations Conference on Trade and Development.

Ms. May said national self-interest and global cooperation are not conflicting and the UK could play a key role in Harnes singing the "innovation and creativity" of young people in Africa, 60% of whose population is under the age of 25%.

"The challenges facing Africa are not Africa alone," she said. "It is the world's interest to create these jobs."

The BBC's political correspondent, Ben Wright, said, like other European politicians, that the prime minister in Africa sees huge economic potential to boost economic stability in the region "stopping the flow of migration".


Britain no longer dominant

By Larry Madowo, BBC Africa Business Editor

The United Kingdom's historical relationship with many African countries still applies to something, but Prime Minister Theresa May will embark on her journey The continent notes that the UK is now vying for attention with larger economies that offer greater wealth.

The leaders of the continent must decide who should prioritize them: an ambitious but friendly China, the huge block of the European Union. the potential wealth of the United States or the historically linked United Kingdom.

The trip of the Prime Minister comes one week before the big forum on China-Africa cooperation in Beijing. Dozens of African heads of state are expected there, and China may offer new trade and financial agreements.

Mrs. May's journey seems to be low in comparison.

The economist based in Nigeria, Lagos, says Britain has lost its once-dominant place in Africa's largest economy.

"While Britain remains a viable trading partner, it does not have the same value to Africa as China and, to a lesser extent, the US."


Security issues will also be on the Prime Minister's agenda, and they are expected to fight over the Boko Haram threat in Nigeria and the role of British troops stationed in Kenya, the countries against al-Shabab militants in Somalia , will discuss. Ms. May's visit to Nairobi will mark the first of a British prime minister in Kenya since Margaret Thatcher in 1988.

It is also the first in sub-Saharan Africa by a British leader since David Cameron in 2013 for Mandela Commemoration.

During her time in South Africa, Ms. M They also presented a relic of the First World War – combined with one of the worst naval battles in English waters – to South African President Cyril Ramaphosa

The SS Mendi sank in 1917 in front of the Isle of Wight and killed more than 600 South Africans on the Western Front to support British troops.

The ship's bell was handed over to BBC reporter Steve Humphrey in 2017 after an anonymous phone call in a plastic bag at Swanage Pier in Dorset – and is now being returned by Mrs. May.

Prime Minister's Journal

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Reuters

Caption

Ms. May will meet South African President Cyril Ramaphosa in Cape Town on Tuesday

Tuesday – Ms. May will fly to Cape Town, where she will meet young people before she can deliver a keynote address on trade and how UK's private investment can be brought to Africa. After a bilateral meeting with South. Www.mjfriendship.de/de/index.php?op…=view&id=167 African President Cyril Ramaphosa is expected to visit Robben Island, where Nelson Mandela is imprisoned was

Wednesday – Ms. May wants to meet the Nigerian President Muhammadu Buhari in the capital Abuja before she meets the victims of modern slavery Lagos

Thursday – In Kenya becomes a woman May President Uhuru Kenyatta meet before visiting British troops and a trade school. A state dinner hosted by Mr Kenyatta will complete the journey.


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