This week I’ll be visiting Africa to bang the drum for our great capital city – and to do everything I can to further develop the economic ties and cultural links that bind London and countries in Africa.
This is the first trade mission to Africa by a London Mayor. Over four cities and five busy days, our delegation will be working to drive trade and investment across critical sectors of our economy – from finance, health and education, to tech, sustainability and our creative industries.
Africa is the world’s most rapidly urbanising region and home to the globe’s youngest and fastest growing population, so this visit has huge potential for London’s businesses to reach and tap into new markets.
Trade between Africa and the UK is growing
Despite global headwinds, the bilateral trade relationship between Africa and the UK has shown consistent growth over recent years. With trade between the UK and Africa worth £50bn in 2024, and UK exports up seven per cent year-on-year, there is a strong economic logic to us visiting Lagos in Nigeria, Accra in Ghana, and Johannesburg and Cape Town in South Africa.
Today, more businesses expand into Africa from London than from any other city globally, and the UK stands as one of Africa’s most significant trading partners.
Just last week, Guaranty Trust Holding Company Plc (GTCO) became the first Nigerian banking entity to list all of its shares directly on the London Stock Exchange, underscoring the strong economic relationship that exists between London and the African continent.
Africa’s tech ecosystem has grown 40 per cent since 2019, and Lagos is considered to be the world’s top emerging tech hub. This is why we’ll be meeting Nigerian tech entrepreneurs who are considering investing in London and selling our city to them as the best place in the world to start and scale a tech business.
How London businesses can benefit
But this is also about helping UK companies expand overseas. So to maximise the impact of this historic visit, my growth agency London & Partners will be supporting a trade delegation of 27 London-based companies that are looking to grow their business and access opportunities in this dynamic and important region of the world.
We’ll also be doing everything we can to promote London – encouraging investment and collaboration, and forging new ties.
The visit will celebrate London’s cultural and community links with the African continent. Londoners of African heritage have played, and continue to play, a huge role in the life and soul of our capital, enriching everything from our food and music to our art, economy, culture and sport.
At a time of increasing trade barriers and protectionism, London will always stay true to the open, inclusive and outward-looking philosophy that over many decades has underpinned our success.
We will not turn our back on trade and talent from around the world, but instead face forward, reaching out and deepening our partnerships and friendships in every direction.
With the government striking new trade deals with India, the US and the EU, we’re determined to play our part. This includes building new bridges with the African continent for our mutual benefit. This is how we can drive growth, raise productivity and ultimately create more wealth and opportunities for Londoners and Africans alike, as we seek to build not just a better city, but a fairer and more prosperous world for everyone.
Written by Sadiq Khan who is the Mayor of London. The article reflects the author’s opinions and not necessarily those of The Southern African Times.
