logo
London mayor to visit Lagos, 3 other African cities as part of UK-Africa engagement

London mayor to visit Lagos, 3 other African cities as part of UK-Africa engagement

Business Insider4 hours ago
London Mayor Sadiq Khan is set to undertake a historic trade mission to Africa, aimed at strengthening ties between the UK capital and key economies on the continent.
London Mayor Sadiq Khan is embarking on a historic trade mission to Africa, focusing on enhancing ties with major cities
Khan's itinerary includes visits to Lagos, Accra, Johannesburg, and Cape Town, recognized as economic and cultural hubs.
The visit marks the first official African trade mission by a London Mayor, highlighting a commitment to fostering global partnerships.
London Mayor Sadiq Khan is set to visit four major African cities - Lagos, Accra, Johannesburg, and Cape Town as part of a UK-Africa engagement tour aimed at strengthening trade, investment, and cultural cooperation between the United Kingdom and the African continent.
The tour reflects London's growing commitment to deepening global relationships beyond Europe and will celebrate both the historical and contemporary connections between the UK capital and Africa.
According to City Hall, the visit aims to highlight the contributions of African communities to London's diversity and economy while forging new partnerships in business, technology, and the creative industries.
Speaking on his official X profile, Khan confirmed his travel plans, saying, ' Lagos, Accra, Johannesburg and Cape Town; These will be my stops later this month on the first trade mission to Africa by a Mayor of London.'
The announcement follows his recent visit to Flygerians, a Nigerian restaurant in Peckham, where he met with business owners to witness first-hand the contributions of African entrepreneurs to the city's economy.
Africa's big economies on target
The Africa trip, first announced in December last year, is part of a strategic trade and diplomatic outreach aimed at deepening business, environmental, and cultural ties between London and key African economies.
Mayor Sadiq Khan's itinerary will take him to four major commercial hubs across Nigeria (Lagos), Ghana (Accra), and South Africa (Cape Town and Johannesburg), cities regarded as some of Africa's most dynamic economic centers.
His visit will include high-level meetings with political and business leaders, as well as engagements with cultural institutions and members of the African diaspora.
Sir Sadiq Khan said:
'I'm delighted to announce that later this month I will be visiting Nigeria, Ghana and South Africa to bang the drum for further investment in London and strengthen the cultural ties we have with each country."
'With growing populations, rapidly advancing technology hubs and an appetite for boosting our trading relationships, this trade mission will be a fantastic opportunity to drive further investment here in London and further deepen our partnerships.'
In Nigeria and Ghana, West Africa's largest economies, Khan is expected to pursue new partnerships in technology, fintech, education, and infrastructure.
Meanwhile, in South Africa, the UK's largest trading partner on the continent, the focus will be on green investment and fostering city-to-city cooperation on urban sustainability and innovation.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

TotalEnergies UK gas assets to be bought by Prax remain unsold
TotalEnergies UK gas assets to be bought by Prax remain unsold

Yahoo

time18 minutes ago

  • Yahoo

TotalEnergies UK gas assets to be bought by Prax remain unsold

By America Hernandez PARIS -The TotalEnergies West of Shetland offshore assets it agreed to sell to Prax Group last year remain under the French oil major's ownership, it said on Wednesday, so will not be subject to disposals resulting from liquidation proceedings affecting the British company. "The transaction to sell our West of Shetland asset to Prax has not yet completed and as such we remain the operator of the Shetland Gas Plant and related fields," TotalEnergies EP UK said in its statement. TotalEnergies had agreed to sell Prax a portfolio of mature offshore fields producing about 7,500 barrels of oil equivalent per day, plus exploration licences and a gas plant, in a deal that would involve transferring employees to Prax. Prax Group's parent company, State Oil, as well as Prax's Lindsey refinery in Britain entered liquidation proceedings this week, with an administrator saying that all financial options were being considered. Those included a sale of Prax's upstream business and retail operations in Britain and Europe, all of which remain outside insolvency. A spokesperson for the British oil and gas regulator, the North Sea Transition Authority (NSTA) declined to comment on whether the sale of the TotalEnergies assets to Prax could proceed given the insolvency proceedings. The NSTA referred Reuters to its rules on change of ownership of oil and gas assets, which say the regulator considers the financial and technical capability of potential buyers to be critical when assessing transactions for approval. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Unemployment furor: Stats SA plans informal business registry
Unemployment furor: Stats SA plans informal business registry

News24

time26 minutes ago

  • News24

Unemployment furor: Stats SA plans informal business registry

• For more financial news, go to the News24 Business front page. South Africa is considering developing a statistical register for small-scale and informal businesses, amid an ongoing debate about the methodology used to compile the country's labour statistics. The register, if implemented, will complement the Quarterly Labour Force Survey and serve as a valuable sampling frame for improved labour market analysis, Statistician-General Risenga Maluleke said after meeting with Capitec's outgoing Chief Executive Officer Gerrie Fourie on Friday. Other senior representatives from Statistics South Africa, the Minister in the Presidency Khumbudzo Ntshavheni and officials from National Treasury were also at the meeting. Fourie last month ignited a debate about the country's real unemployment rate, arguing that it would be closer to 10% if self-employed people and those working in informal markets are counted. The official rate is 32.9%, one of the highest in the world. 'We are committed to working with the government and the private sector to help South Africa grow,' Capitec said in an emailed statement. 'We believe this growth will only be achieved once the informal economy is properly understood and supported with the right policy frameworks, infrastructure, funding, and skills development.'

British fintech Zilch on hunt for overseas bid targets
British fintech Zilch on hunt for overseas bid targets

Yahoo

time27 minutes ago

  • Yahoo

British fintech Zilch on hunt for overseas bid targets

Zilch, the consumer lender which has become one of Britain's fastest-growing fintech companies, has begun a search for international takeover targets as it accelerates its expansion ahead of a bumper stock market listing. Sky News understands that Zilch, which is run by co-founder Philip Belamant, is working with advisers to identify peers outside the UK which it can acquire in the coming months. The company, which is regulated in the UK and counts eBay among its investors, has amassed a customer base of more than five million people. Money latest: It is now among the UK's most valuable fintechs, making its future public market debut a hotly contested prize for stock exchanges in London, New York and elsewhere. Mr Belamant has been an active participant in talks with regulators and policymakers about reforms to London's listings regime amid growing concerns about the relative attractiveness of UK public markets. Last year, he warned that Zilch could float outside the UK without meaningful efforts to incentivise "retail investors to buy and hold British stocks". Sources close to the company said Zilch had generated more than £750m in savings on interest and fees for customers since its launch. Payments through its platform now have a gross merchandise value of more than £4bn, they added. Zilch has annual revenues of more than £150m, making it well-placed to snap up rivals which are too small to raise additional capital or list on the public markets, according to insiders. In recent months, the company has also been exploring its own private share sale to raise funding, having hired Citi to work on the mandate. Its last fundraising valued the company at about £1.5bn. Other Zilch investors include Goldman Sachs and Ventura Capital. Zilch secured authorisation from the City watchdog in 2020 and now offers customers a digital debit Visa card earning up to 5% of spending in rewards. In the same app, customers can switch to a credit card, allowing customers to spread repayments with zero interest over six weeks or three months, enabling them to build their credit record. The company differentiates itself from other Buy Now Pay Later companies because it is already regulated by the Financial Conduct Authority. In total, Zilch has raised £500m in equity and debt since it was founded. The company employs more than 250 people. Zilch declined to comment on Friday.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store