British Prime Minister Theresa May has arrived South Africa, on her three-nation tour of the African continent, which will be her first, and first of any British Prime Minister since 2013.
Prime Minister Theresa May who is scheduled to visit South Africa, Kenya, and Nigeria, kicked off her tour a few hours ago, as she arrived in Cape Town today, where she was received by the South African President Cyril Ramaphosa.
Prime Minister Theresa May and the United Kingdom who are desperately looking for a possible future market, as alternative plans and part of their Brexit strategy, is meeting with key economies in Africa, where she hopes to strike a deal with these countries in terms of increased economic relations.
Both Nigeria and South Africa, and then Kenya are the three largest and fastest growing economies in Africa, and also in their respective sub-regions. Also, given that these three countries opted out of a possible free trade agreement with the European Union and the African Union, it gives hopes to the United Kingdom as they battle to get their exit from the European Union sorted out as fast as possible.
The United Kingdom and South Africa, have some interesting business relations, which date back decades. Some of these relationships as highlighted by the South African government, reads:
“The UK remains a critical market for agriculture exports, accounting for over 20% of South Africa’s exports of wine and 30% of fruits exports globally. The UK remains the biggest destination in the European Union for South African investments”
“The United Kingdom remains South Africa’s largest global investor. Most foreign direct investment (FDI) into South Africa from Europe comes from the UK. More than 600 companies from the UK have established a presence in South Africa. ”
“The United Kingdom remains South Africa’s largest global investor. Most foreign direct investment (FDI) into South Africa from Europe comes from the UK. More than 600 companies from the UK have established a presence in South Africa.”
“UK is South Africa’s 6th largest trading partner, with the value of total trade between the two countries amounting to R79,5 billion.”
Prime Minister Theresa May while in South Africa, speaks on Africa as a whole and what the United Kingdom are willing to do to promote peace and economic development in the continent. She said:
“As well as emergent democracies & growing economies, Africa is home to the majority of the world’s fragile states and a quarter of the world’s displaced people. Extremist groups such as Boko Haram and al-Shabab are killing thousands”
“The UK is already providing support for African governments that are meeting this challenge head-on. Nigerian troops on the frontline against Boko Haram have received specialist training from Britain,”
“We’ll use our aid programme to support a major new crack down on illicit finance & organised crime, deploying expertise & increasing our work with law enforcement to return more of the billions of dollars stolen from countries in Africa and elsewhere.”
“A driving focus of our development programme will be to ensure that governments in Africa have the environment, knowledge, institutions and support to attract sustainable, long-term investments in the future of Africa and Africans.” She said.