ETK Group

Why UK should be striking business deals in Africa

Post-Brexit Britain will benefit from an African trade boom, claims Bolaji Sofoluwe.

Speaking about the inaugural UK-Africa Investment Summit , the managing director of Colchester-based ETK Group, urged businesses in the East to look at striking trade deals across the continent before 2045.

Mrs Sofoluwe, of ETK Group, which is the lead consultancy for African market entry and African business growth, said the opportunities were “too good to resist” and that she had been involved in brokering a number of successful ventures for clients in the East to export to Nigeria.

The summit, which is being hosted by Prime Minister Boris Johnson in London on January 20th, will bring together businesses, governments and international institutions to showcase the broad spectrum and quality of investment opportunities across Africa.

Why Africa?

Mrs Sofoluwe, who founded ETK Group in 2012, said: “The message is plain and simple – if you are not in Africa by 2045, you will desperately regret it.

“The fact is that Africa has the youngest population in the world with nearly 60% aged below 35 – and it’s rapidly growing.

“From the perspective of jobs and the workforce, it’s the opposite to what’s happening in Europe.

“Africa is still virgin territory really and that’s because some of the world’s least developed economies are there. It opens opportunities for full investment in areas such as infrastructure, logistics and housing.

“In developed countries, there is a limit to the growth opportunities available – in Africa, there are still many opportunities for growth.”

The summit has been put together by the UK government – the Department for International Trade (DIT), the Department for International Development (DfID) and the Foreign Office – to talk to African leaders about its involvement in Africa and how it can be improved.

Africa is open for business

Mrs Sofoluwe added: “I attended some fringe events in the build-up to the summit including events about agri-processing and manufacturing. One of the main takeaways is that Africa is open for business.

“I had the pleasure of meeting some truly impressive CEOs – one of which is a contract manufacturer from Ethiopia and another who exports African super food to the UK.”

ETK Group works with clients to build trust and confidence in trading and investing in Africa and helping Africa-based companies expand their international footprint.

The expert team can help clients navigate their way through issues including legislation and trading practice, finding partners and understanding cultural differences.

For more information about ETK Group, call the team on 01206 563698.

Posted in

Bolaji Sofoluwe

Leave a Comment