Africa Is The New Export Market Destination, Secretary of State-Commonwealth
Staff Writer
North West firms are being encouraged to do business in Africa by government minister MP Mark Simmonds.
Simmonds, Under Secretary of State for Foreign and Commonwealth Affairs, met 30 delegates at a conference at UK Trade and Investment’s (UKTI) Trafford Park branch in Manchester, where he showcased the ‘growing African market’ and hailed the continent as the economic landscape of the future.
Representatives from the Department for International Development, UK Export Finance as well as the Foreign and Commonwealth Office also attended the event at Warren Bruce Court.
“If you are an active, ambitious business, do consider looking at Africa as a potential new export market for your goods and services. This is not just oil and gas, its education, agriculture, chemicals, retail. And it is all part of the journey of Africa and its people becoming more affluent,” he said.
Simmonds also said there’s a growing ambition of people in Africa to have a lifestyle that we is accepted as normal in Europe.
He added: “We provide support to businesses who want to access most African countries’ markets.
“But there are five high level prosperity partnerships, which are Tanzania, Mozambique, Ivory Coast, Angola and Ghana, where we are providing support through all government departments to UK businesses.”
The event in Trafford was hosted by Barclays, PwC and DLA Piper.
The panel said that Sub-Saharan Africa has shown resilient growth during the financial crisis, and is expected to grow by 6% per year over the next four years with Nigeria, Kenya, Ghana and others expected to achieve growth rates of seven per cent or more this year.
“The priorities in Ghana are infrastructure and agriculture,” said Victor Hugo,high commissioner for Ghana during the discussion.
"They are the big ones. There are other smaller to medium type priorities but the government in Ghana needs help from British business in infrastructure, transport and agriculture.”
Africa has seen influx of investments in the 21st century, perceived by most economic analyst as ‘the second scramble for Africa’ by multinational businesses and companies to tap in the ever growing market for goods and services, and abundant resources in the continent.
China has stamped its presence across Africa, causing traditional trade partners to step up their current investments, which African people view as advantageous economically, socially and politically.