Standard Bank Sponsors UK-Africa Investment Summit

By Adedapo Adesanya

Africa’s largest banking group by assets, Standard Bank, is expanding its frontiers by partnering with the United Kingdom Government to sponsor the debut UK-Africa Investment Summit to establish lasting partnerships between the UK and African governments and institutions.

The event will be hosted by the Prime Minister, Mr Boris Johnson, in London on January 20, 2020 and is expected to bring together UK and African businesses, leaders and delegations, international institutions and young entrepreneurs on how these partnerships can deliver more investments, jobs, and growth.

The summit will cover topics including: Trade and investment, infrastructure development, sustainable finance, the role of the City of London in attracting African businesses to raise capital, clean energy, women’s economic empowerment and creating jobs for young people across the continent.

Commenting on the sponsorship, Mr Sola David-Borha, Chief Executive, Africa Regions, Standard Bank, said, “We are proud to be a sponsor of this prestigious and important summit. Africa is home to many fast-growing economies and businesses, and it is very positive to see the recognition of the huge potential for UK companies and investors.

“Furthermore, improving socio-economic ties between the UK and Africa can only be mutually beneficial. There are an increasing number of African businesses and governments looking to the UK, and the City of London in particular, to access capital, as well as investment and commercial expertise across different sectors.

“British investors and businesses are increasingly recognising Africa’s potential and the role they can play in boosting the continent’s long-term growth – particularly through investments that have positive social, economic and environmental impacts.

“This well-timed summit will help to build significant and long-lasting commercial ties between the UK and Africa.”

Mr Sola David-Borha will participate in a panel event on Sustainable Finance and will be meeting British and African leaders across business, politics and other institutions.

Ahead of the Summit, the United Kingdom’s International Development Secretary, Mr Alok Sharma, visited some countries on the continent and noted that, “Africa has eight of the 15 fastest growing economies in the world but currently receives less than 4 percent of foreign direct investment.

“There are fantastic opportunities for UK businesses to work alongside, invest in and partner with African nations.”

“At the UK-Africa Investment Summit in London on January 20, we will bring together UK and African businesses, African leaders, international institutions and young entrepreneurs to drive the investment Africa needs to flourish. I look forward to seeing many of you there,” he added.