U.K signs £6.5 billion commercial deals with Nigerian firms

British firms have announced commercial deals worth over £6.5 billion across the African markets. This was disclosed at the opening of the UK-Africa Investment Summit in London on Monday.

In a press release issued by the U.K government obtained by Nairametrics, the commercial deals span a variety of sectors including infrastructure, energy, retail, and technology, and will deliver high-quality investment, jobs, and growth across the United Kingdom (UK) and Africa.

The deals’ Breakdown

At the UK-Africa Investment Summit, 27 deals were announced, adding to the existing £36 billion worth of trade already happening between the UK and African firms. Deals announced include:

  • Savannah invests £315 million in the acquisition and investment of ingas assets in Nigeria.
  • Tex ATC installs 5 Airport control room towers worth £2 million in Nigeria.
  • Trilliant installs £5 million of Smart Metering to Abuja DisCo in Nigeria.
  • Aggreko signed an £80 million contract extension for energy provision in Cote D’Ivoire
  • Airbus sells £80 million of aircraft in Egypt
  • Anglo-Tunisian Oil and Gas invest £26 million in Tunisian gas assets.
  • Aqua Africa wins a £26 million export contract to supply solar-powered water filtration systems in Ghana.
  • Baker Hughes £306 million export and investment of deep-sea equipment and scholarships in Mozambique
  • BHM £80.3 million work on the Tema-Aflao Road Project in Ghana.
  • Bombardier’s £3.18 billion construction and operation of 2 monorail lines in Cairo.
  • Contracta Construction UK wins a £120.5 million export contract to upgrade Kumasi teaching hospital in Ghana.
  • Contracta Construction UK wins £40 million export contract to develop Kumasi airport in Ghana.
  • Diageo invests £167 million to improve the sustainability of breweries in Kenya & East Africa.
  • Globeleq invests £50 million to help build of Malindi photovoltaic solar park in Kenya.
  • GSK invests £5 million in Egypt to upgrade two production lines.
  • Kefi Minerals invest £224 million in a new gold mine and to develop local infrastructure in Kenya.
  • Lagan Group wins a £185 million export contract for the construction of Kampala Industrial Business Park in Uganda.
  • Lloyds Register invests £0.76 million to set up operations in Mozambique.
  • Low Energy Designs win an export contract to install street lighting for Oyo state in Nigeria.
  • Matalan invests £25 million to open 13 new outlets in Egypt.
  • Moy Park to export £12 million of frozen chicken to Angola.
  • Nexus Green export £80 million of solar-powered water pumping systems for irrigation in Uganda.
  • NMS Infrastructure invests £222 million in the construction of 6 hospitals in Côte D’Ivoire.
  • Rolls Royce purchase £50 million of aircraft engines in Egypt.
  • Tullow invests £1,200 million in continued oil production in Kenya.
  • Tyllium and Ellipse win an export contract worth £60 million to provide 250 new beds for a general hospital in Koforidua in Ghana.
  • Unatrac wins a £1.5 million export contract to supply machinery for Ugandan roads.

More Investments in Africa

According to the U.K Department for International Development and Trade, the diverse and fast-growing economies of Africa offer huge potential to UK business. Over £36 billion worth of trade is already happening between the UK and Africa, and the deals revealed how the duo are building on that to secure a lasting commercial partnership of mutual benefit.

Secretary of State for International Trade, Liz Truss, MP said:

“Africa represents a huge opportunity for UK businesses, so it’s brilliant to see so many British firms paving the way in trading and investing in the region today to drive growth, create jobs and boost vital infrastructure.

“We want the UK to be the investment partner of choice for African nations, and our world-leading expertise in finance, tech, and innovation, makes the UK and Africa natural partners for prosperity.