By Alastair McPhail*
As the United Kingdom’s Envoy for the UK-African Investment Summit (UK-AIS) to be held in London in Spring 2024, I was delighted to visit Yaounde to discuss how the UK and Cameroon can strengthen our partnership through our collaboration at the UK-AIS and beyond.
The UK-AIS is all about partnerships – modern partnerships that promote jobs and growth. The UK is keen to use the Summit to build long-term, modern partnerships with African countries, including Cameroon, that are mutually beneficial, rooted in respect and that account for what African countries want and need. We want the Summit to help governments, businesses and investors recognise and act on African partners’ innovation and potential. We want it to showcase UK and African talent and the role of the UK and the City of London as sources of public and private finance, in supporting the economic capabilities of the future in African countries.
The Prime Minister, Rishi Sunak, will personally host the UK-AIS in London. We are hoping that the Republic of Cameroon will participate at the highest levels. I was honoured to be received in an audience by H.E President Paul Biya to discuss Cameroon’s participation at the UK-AIS. Our offer to Cameroon includes a commitment to strengthen and evolve our broad, longstanding ties.
Building on the UK-Africa Investment Summit in London in 2020, we aim to deepen our investment partnership to drive mutual growth and prosperity.
The UK-AIS will demonstrate the impact and value of partnership with the UK, including as: the leading business investor in Africa, according to the UNCTAD World Investment Report 2023; a major centre for global finance, business, innovation and services; a leader in the green economies and technologies of the future, and a home to diverse and well-connected African diasporas.
The UK-AIS will also realise concrete opportunities for mutual benefits in prosperity, growth and jobs, by securing major investments into African countries, including UK Export Finance and British International Investment projects in Cameroon’s road infrastructure, agropastoral and electricity sectors; showcasing African partners’ strengths, capabilities and innovations to a wide UK and African public and private sector audience; supporting policies that enhance trade integration, market access, exports, and jobs for young people; and promoting women’s economic potential in business leadership and jobs.
I see a rich agenda here for the UK and Cameroon. I was honoured to visit Yaounde to take this forward.
*Alastair McPhail is United Kingdom Envoy for the UK-African Investment Summit 2024.
