On Monday, the United Kingdom hosted an investment summit with several African nations where £2.6 Billion worth of commercial deals were committed over the next 2 years.
The summit included 21 leaders of African countries alongside entrepreneurs, financiers, and UK politicians — including Prime Minister Boris Johnson. This high profile event garnered loads of attention and hopes to fuel trade between Africa and the UK.
The African market will continue to expand and provide a lot of opportunities for foreign investors since there are so many large and emerging markets, most notably — Nigeria.
The deals stuck range from solar power water pumping stations to infrastructure upgrades across the continent.
Below is a snapshot of the projects that investors committed to:
- Low Energy Designs win an export contract to install street lighting for Oyo state in Nigeria.
- Savannah invests £315m in the acquisition and investment of ingas assets in Nigeria.
- Tex ATC installs 5 Airport control room towers worth £2m in Nigeria.
- Trilliant installs £5m of Smart Metering to Abuja DisCo In Nigeria.
- Aggreko signed an £80m contact extension for energy provision in Cote D’Ivoire
- Airbus sold £80m of aircraft in Egypt
- Aqua Africa wins a £26m export contract to supply solar-powered water filtration systems in Ghana.
- Contracta Construction UK wins a £40m export contract to develop Kumasi airport in Ghana.
- Globeleq invests £50m to help build Malindi photovoltaic solar park in Kenya.
- Kefi Minerals invest £224m in a new gold mine and to develop local infrastructure in Ethiopia.
- Nexus Green export £80m of solar-powered water pumping systems for irrigation in Uganda.
- NMS Infrastructure has won a £222m contract to construct 6 hospitals in Côte D’Ivoire.
- Rolls Royce agrees £50m export of Rolls Royce engines to EgyptAir.
The summit also included sessions on sustainable finance and infrastructure, trade and investment, African growth opportunities, and clean energy strategies.
I hope these investments will spur more countries across the world to pour more funds and energy to conscientiously help Africa grow economically.