UK Secretary for State for International Development launches new investment package for Africa
The UK’s Secretary for State for International Development, Rory Stewart, used his speech at the recent Africa Financial Services Investment Conference in London to announce a series of new initiatives to bolster investment in Africa.
Stewart launched a new partnership to improve financial regulation in Africa, that will bring together officials from the Bank of England with their counterparts working in the Central Banks of African countries. He also announced a new £31 million (US$39 million) Currency Exchange Fund to help to reduce the risks of currency fluctuations for investors in Africa. Finally, Stewart launched a new national survey across the United Kingdom to understand UK citizens views on ethical investing in Africa. The survey will be funded by the UK's Department for International Development (DFID).
The UK government plans to host an African Investment Summit in the beginning of 2020.