Question to the Department for International Development:

To ask the Secretary of State for International Development, with reference to the press release, UK launches ambition to generate billions more investment in Africa to trigger transformational growth, published on 28 August 2018, what estimate she has made of the financial benefit to UK business from those partnerships.

The Prime Minister announced a range of measures to substantially boost investment into businesses and infrastructure across Africa. The UK will invest up to an additional £4bn in Africa directly, whilst also aiming to mobilise £4bn of private investment into the continent over four years (2018-21).

Benefits will materialise over time. UK investment in Africa supports African economies to grow, building greater opportunities for UK businesses to trade and invest with the continent in the longer-term. CDC investments in Africa build markets and demonstrate to other investors the viability of investing in the continent, creating opportunities for UK investors and businesses. Essential infrastructure, such as power and roads, supported by the Private Infrastructure Development Group (PIDG) will lay the foundations for new investible opportunities across Africa in places businesses previously would not have been able to operate, potentially creating opportunities for the UK also.