Department for International Development
UK boosts trade and investment partnership with Ghana
International Development Minister Baroness Sugg visited Ghana last week to strengthen trade and investment ties ahead of the UK-Africa Investment Summit in 2020.
Co-hosting the UK-Ghana Business Council alongside the Ghanaian Vice-President Mahamudu Bawumia, Baroness Sugg discussed how UK aid and investment can help Ghana move beyond aid by creating jobs, boosting growth and driving its huge economic potential.
During her visit, Baroness Sugg launched a new partnership between the London Stock Exchange and the Ghana Stock Exchange, which will see the UK share its world-class City of London expertise to help Ghana become a regional hub for financial services.
She also championed the use of UK aid to help businesses in Ghana in a range of sectors. This includes helping garment companies scale up their exports globally and supporting agri-businesses become more productive, competitive and attractive for investors.
International Development Minister Baroness Sugg yesterday said:
Ghana is set to be one of the world’s fastest-growing economies this year and our flourishing partnership is helping to create jobs, improve access to basic services and boost economic growth, all of which are vital to ending poverty.
Building strong African markets will help attract quality investment from around the world and encourage more trade in the future. The UK-Africa Investment Summit in London next year will help further unlock the potential of African nations.
The UK and Ghana already enjoy strong economic ties: UK imports of goods from Ghana increased by 143.7% in the year to April 2018.
Africa is home to some of the fastest emerging economies in the world and the UK-Africa Investment Summit 2020 will provide a platform to promote the breadth and quality of investment opportunities across Africa.
The Summit will bring together businesses, governments and international institutions and will be a key milestone towards achieving the UK’s objective of becoming the largest G7 investor in Africa.
The UK will host the UK-Africa Investment Summit in London on 20 January 2020.
Notes to Editors
- The UK-Ghana Business Council meeting was co-chaired by International Development Minister Baroness Sugg and the Vice President of the Republic of Ghana, His Excellency Alhaji Dr. Mahamudu Bawumia and attended by key Cabinet ministers.
- Baroness Sugg attended the third meeting of the UK-Ghana Business Council which builds on previous agreements to focus on six priority sectors: agri-processing, financial services, textiles and garments, pharma, digital and extractives.
Latest News from
Department for International Development
UK aid to help vaccinate more than 400 million children a year against polio06/11/2019 10:25:00
International Development Secretary Alok Sharma has pledged new UK aid support to help vaccinate more than 400 million children a year against polio.
The UK has a vital role to play in leading the global fourth industrial revolution29/10/2019 13:10:00
Article in CityAM by the Lord Mayor of London on his recent business delegation visit to Kenya.
UK Voluntary National Review on the Sustainable Development Goals - lessons learnt and next steps29/10/2019 08:10:00
A lessons-learnt process is underway including an external stakeholder survey.
International Development Minister thanks Brits fighting debilitating disease on World Polio Day25/10/2019 11:20:00
UK aid is playing a leading role to eradicate polio around the world.
UK aid to provide education and jobs to thousands of Syrian refugees14/10/2019 15:10:00
Minister for the Middle East, Dr Andrew Murrison MP, announces support during visit to Lebanon.
UK aid backs private sector to fight malaria10/10/2019 15:28:00
New £100 million private sector funding to tackle malaria will be doubled by UK aid, to help stop six million cases of malaria and save 75,000 lives.
International Development Minister announces new UK aid to support 1.2 million people living in Cox’s Bazar10/10/2019 08:10:00
Baroness Sugg pledges new UK aid for Rohingya refugees and vulnerable Bangladeshi host families during a visit to the region.
UK aid partners with Gates Foundation to tackle global food insecurity09/10/2019 08:10:00
New funding to allow scientists to research cutting-edge technology to protect crops and produce “super crops” that will be more efficient and withstand the impacts of climate change.