The first Africa-London business summit will occur next year in London, focusing on fostering economic relationships with the continent. Mayor Sir Sadiq Khan initiated this summit during a trade mission across several African cities, including Lagos, Accra, Johannesburg, and Cape Town. The summit aims to bring together entrepreneurs, investors, state officials, and trade groups from Africa to enhance trade links and attract foreign investment in London. Currently, Africa represents 1.25% of foreign direct investment into the city, and expanding these ties is viewed as crucial for job creation and economic growth.
"Expanding ties with Africa will be key to delivering our international trade ambitions, creating thousands of good jobs in the next five years and beyond," Sir Sadiq said. "London has a rich history with the continent through our diaspora communities."
"We have a lot of brains [in Nigeria] that if London can nest that and create an opportunity, there will be a big growth," he told BBC London. "Gone are the days it's only India you can outsource to. There are brains in Nigeria, I promise you."
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