UK commits to help Malawi grow new industries

Written by  MBC Online

The United Kingdom (UK) has committed to help Malawi grow new industries, on top of channeling billions of private investment into Africa, Malawi inclusive.

APM and Graham Stuart APM and Graham Stuart

UK Minister for Investment and International Trade, Graham Stuart, made the commitment when he met  Malawi President Professor Arthur Peter Mutharika on the sidelines of UK-Africa Investment Summit on Monday.


During the meeting, Mutharika and Stuart tackled issues of mutual interest in order to boost trade and Investment as well as about the prospects of the UK investing more in Malawi.


Stuart said the channeled billions of pounds into Malawi and the rest of Africa “would boost job creation and growth, innovation in technology, infrastructure and finance which can feed Malawi's demand for sustainable growth and mutual prosperity”.


With Brexit negotiations still weighing heavy in Parliament, UK  is putting more focus on strengthening non-European relations.


Last year, Africa was home to 5 of the 15 fastest growing economies in the world, now it's home to 8.


In the last two years, government-backed export finance provided by UK Export Finance (UKEF) has secured close to £2bn of financing for British firms breaking into African markets.


The summit showcased that the UK is actively looking to form a strong trading and investment relationship with African nations, which will hopefully benefit businesses on both continents for years to come.

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