Jeremy Hunt: Time for the world to see African nations as partners for investment and trade

Must Read

TAJBank Launches Nigeria’s 2nd Non-Interest Financial Institution (Photos)

Abuja Nigeria   December 2nd 2019, TAJBank, Nigeria’s second Non –Interest financial institution, has announced the launch of its services...

Hotel Group BON to Open 22 Properties in Nigeria’s Major cities, Secondary towns

International hospitality group BON Hotels says it plans to open over 22 hotels in Nigeria’s major cities and secondary...

Amazing Ankara Styles To Wear To An Occasion

If you have been recently invited to a wedding in Nigeria, there are lots of good options. From Aso Ebi to lace...
- Advertisement -
Foreign Office business delegation sign deals worth £82 million
The signed deals will see up to 1600 new jobs in Nigeria and Ghana, and at least 150 in the UK; £30 million of UK funding to help transform agriculture in Ghana.
Speaking in Ghana on the second day of his trip to Africa, the Foreign Secretary Jeremy Hunt commits to supporting ‘Ghana beyond aid’ as he highlights how UK aid is building partnerships and boosting prosperity across the continent, welcoming new business deals with British companies in Ghana and Nigeria worth £82 million.
- Advertisement -

In Ghana, the cabinet has approved a £26 million agreement with British business Aqua Africa to reduce water poverty in the country. This new business link will create 600 new jobs in the region and will help at least 250,000 people access clean water.

This follows the announcement earlier this year of £130 million of UK Export Finance backed projects, including a £78.4 million project to expand and refurbish Kumasi Market in Kumasi, Ghana’s second city. This project, due to breaking ground on 2 May 2019, is in one of the biggest trading hubs in West Africa and will provide upgraded, modern facilities allowing the market to grow and prosper, directly supporting Ghana’s economic development.

Travelling to Nigeria later today for the inaugural meeting of the UK/Nigeria Economic Development Forum (announced by the Prime Minister last year), the Foreign Secretary will also announce a £56 million deal which will see British technology helping to keep Nigeria’s commuters on the move.

Speaking in Abuja the Foreign Secretary will announce that British firm Bekoz, in collaboration with pan-African firm Interswitch, will be providing the contactless card technology that allows people to travel around Nigeria’s travel infrastructure, similar to London’s Oyster system.

Much of the manufacturing will be done in Wales, and the deal is expected to create jobs in the UK.

Foreign Secretary Jeremy Hunt said:

“I’m delighted to be in Ghana today to announce almost £82m worth of new British business deals here and in Nigeria. The economic opportunities we see right now in Africa are tremendous, with enormous potential to grow. We must not see African nations as recipients of our charity, but rather as partners and destinations for our investment and trade.”

While in Ghana he also announced £30 million of UK funding for building and developing markets for agriculture and trade that create jobs, increase incomes and improve resilience to climate change. The Agricultural Transformation in Ghana (ATG) programme will increase income by 25% for over 300,000 farmer households, helping over 1 million individuals by 2025. Department for International Development funding will stimulate at least £60 million in private sector investment aimed at enhancing smallholder farmers’ productivity and resilience.

The business delegation accompanying the Foreign Secretary will include:

  • Aqua Africa
  • Bechtel
  • BHM Construction
  • Biwater
  • BP
  • CDC
  • London Stock Exchange
  • Ordnance Survey
  • OSTC
  • Plexus Cotton
Read:  Recession: Telcos may block Skype, WhatsApp calls, target N20tn revenue
Read:  Nigeria Serving As An Example In Local Content Policy For Other African Countries
- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

News Highlights of November 2019 (Video)

It was a November to remember, as the battle for survival continues among brands, new ventures, opportunities, investments and the making of a payment...

Video Streaming Market to Reach $149.34 Bn Globally by 2026 at 18.3% – Report

Allied Market Research published a report, titled, "Video streaming market by Component (Solution and Services), Solution Type (IPTV, Over-the-top, and Pay TV), Streaming Type (Live/Linear...

Lagos State to commence issuance of license, permit for Boreholes Drilling in 2020

Lagos State Water Regulatory Commission is to commence issuance of licenses and permits for water abstraction in the state by the first quarter of...

May & Baker Nigeria Agrees to Manufacture 4 Product Brands for Sanofi in New Deal

The National Agency for Food & Drug Administration & Control (NAFDAC) has expressed strong support for the efforts by Sanofi, a multinational healthcare company,...

More Articles Like This