UK-Africa summit/ renewable energies : UK keeness to invest in Africa underlined

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ALGIERS – Renewable energies will be a key driver of resuming Africa’s growth and economic prosperity after COVID-19, participants at Britain’s 2021 investment summit highlighted, reported, Thursday in a statement, the African Development Bank (AfDB).

“Renewable energy will be a key driver of Africa’s resumption of growth and economic prosperity after COVID-19, panelists said, Wednesday, at a UK investment in Africa summit in 2021, calling for a stronger partnership between the United Kingdom and Africa, “said the same source in a statement published on its website.

Under the theme “UK and Africa: Partnerships in building sustainable and resilient infrastructure”, panel discussions focused on UK innovation and experience in the context of the partnership with Africa to advance its economic development.

The participants, on this occasion, declared that “investment in large-scale electrification projects would be essential”.

Quoted in the statement from AfDB, CEO of UK Export Finance, Louis Taylor said African countries are rebuilding better from the coronavirus, adding that this presents an “unparalleled opportunity for UK investors to be part of Africa’s success.

“The UK remains the ultimate one-stop-shop. The UK government remains the largest G7 investor in Africa. For example, UK Export Finance is providing a £ 1.7 billion guarantee to support the development of the Cairo monorail in Egypt – the UK’s biggest guarantee of overseas infrastructure, ”said the same official.

For his part, the co-managing director of African Infrastructure Investment Managers, an infrastructure investment management company, Olusola Lawson, underlined the urgent need for access to energy in high demand centers.

The UK Africa Investment Conference, organized by the UK Department for International Trade, brings UK and African businesses together to explore partnership and investment opportunities.

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