President Adesina discusses UK-Africa trade relations post-Brexit with the UK Trade Commissioner for Africa

In an interview with Bloomberg, African Development Bank President Akinwumi Adesina shares his outlook for UK-Africa trade relations post-Brexit.

The Bank head explains how COVID-19 has greatly impacted African economies, including foreign direct investment on the continent, which fell around $18 billion last year compared to 2019. The need for investment remains high, as governments, with the support of the African Development Bank, adapt to a new normal, Adesina explained. He argued that Africa’s economic fundamentals remain intact and highlighted the recently launched African Continental Free Trade Area, which covers an economy with a combined value of more than $3 trillion.

Her Majesty’s Trade Commissioner for Africa, Emma Wade-Smith, emphasized the UK’s position as an “absolute free trade champion” and encouraged African businesses to do more trade with the rest of the world, particularly the United Kingdom. “If we don’t increase the trade flows to and from the African continent, then we’re not going to realize the great potential we have to create and sustain more jobs for the people who are coming into the workforce, and that’s absolutely critical,” the UK Trade Commissioner for Africa emphasized.

Click play to watch the full interview.