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1. High Level Prosperity Partnerships in Africa
The High Level Prosperity Partnerships aim to strengthen economic cooperation between the UK and Angola, Côte d’Ivoire, Ghana, Mozambique and Tanzania based on shared priorities in specific sectors. The FCO, UKTI and DFID will work together and with African governments and business to identify opportunities to increase trade and investment and create mutual growth and jobs. The Africa Growth Story
The combined economies of Sub-Saharan Africa have grown at nearly 5% per year in the last decade. The region has huge undeveloped natural and human resources, which, with the right management and high-quality, responsible investment, will be a source of sustainable future growth.
To capitalise on their advantages, countries in the region need to address a number of challenges, including closing the infrastructure gap, enhancing the productivity of the private sector, improving the investment climate and ensuring that those entering the workforce have the appropriate skills and knowledge, including language skills.
No country has been able to eradicate poverty without economic growth, and no country will graduate from aid without growth. Wherever long-term per capita growth has been higher than 3%, we have also seen significant falls in poverty.
Accelerated economic growth in Africa creates opportunities for higher and more inclusive growth and sustained poverty reduction. Growth enables developing countries to become emerging economies and in turn major markets for the future. This economic growth when broad based and accompanied by diversification into a wider range of higher value sectors can reduce poverty through creating jobs, increasing livelihoods and growing African countries’ tax bases allowing governments to deliver public services like health and education.
In 2012 economic growth in the High Level Prosperity Partnership countries ranged between 7% and 10%. We predict further strong growth in the years to come. The UK government wants to be part of this growth story and to build long term relationships of mutual prosperity. The governments of the United Kingdom, Angola, Cote d’Ivoire, Ghana, Mozambique and Tanzania have therefore agreed at ministerial level to establish High Level Prosperity Partnerships in order to achieve this shared objective.
2. The High Level Prosperity Partners
In 2012 Angola’s growth reached 8.4% of GDP. It is Africa’s second biggest oil producer and the third biggest economy in Sub-Saharan Africa. British exports to Angola increased by 154% in 2012, making it our 4th largest export market in Africa. Under the High Level Prosperity Partnership with Angola we aim to promote high-quality British investment into the key sectors of oil & gas and agriculture and facilitate access to British expertise in financial services and education. We will also address challenges in the business environment through further support for the Centre for Business Ethics and other initiatives to support Angola’s efforts to increase transparency.
For more information on the High Level Prosperity Partnership with Angola contact firstname.lastname@example.org
2.2 Côte d’Ivoire
Côte d’Ivoire’s economy grew by 9.8% in 2012 with similar rates expected over the next two years at least. It has one of the best business infrastructures in West Africa. We will work with the government to establish a globally competitive mining code to attract responsible investors, provide UK education for future leaders in the country’s promising hydrocarbons sector, facilitate access to London’s financial expertise to support development of the Ivorian finance sector, including access to capital and an enhanced insurance market. The Abidjan to Lagos highway project is an opportunity for Cote d’Ivoire to improve its transport infrastructure and facilitate regional trade while also providing opportunities for UK professional services companies.
For more information on the High Level Prosperity Partnership with Côte d’Ivoire contact Côte d’Ivoire.email@example.com
Mozambique’s economy has been amongst the fastest-growing in the world in the last decade, reaching 7.5% in 2012. Mozambique’s significant coal and offshore hydrocarbon deposits look set to transform the economy and the Government of Mozambique is keen to attract responsible companies that will contribute to the country’s economic and social development, in the long term. The UK is the second largest bilateral donor (over £75 million pa), and the largest bilateral budget support donor with a leading role in the development community. UK business is well established, we are a top 5 investor and UK exports are growing fast. The High Level Prosperity Partnership will focus on extractives, agriculture, financial services and the business environment.
For more information on the High Level Prosperity Partnership with Mozambique contact Mozambique.firstname.lastname@example.org
Ghana has averaged 5% GDP growth over the last 20 years, reaching Middle Income Country status in 2012. It is the second largest economy in West Africa after Nigeria. Increasing oil production underpins a strong medium-term economic outlook. British exports to Ghana increased by one fifth in 2012 making it our sixth largest export market in sub-Saharan Africa. The UK is one of the largest development partners, providing £95 million this year. The High Level Prosperity Partnership will focus on enhancing the G8 Partnership on extractives and promoting greater collaboration in the production and effective management of Ghana’s oil and gas resources. It will also target the priority areas of agriculture, renewable energy and the environment, education, financial services, and the wider investment climate.
For more information on the High Level Prosperity Partnership with Ghana contact Ghana.email@example.com
Tanzania has grown strongly over the past decade achieving 6.9% in 2012. Recent gas discoveries (41 trillion cubic feet to date) provide a new opportunity to sustain the growth. The UK is the leading investor (35% share) and has the second largest development programme (£150m in 2012/13, rising to £200m in 2014/15). The High Level Prosperity Partnership will prioritise oil and gas and the supply chain, renewable energy, agriculture and improving the business environment. It will complement Tanzania’s UK-funded Big Results Now programme. We will support capacity building in the energy sector, and take forward the G8 Extractives and Land Transparency Partnerships. The Southern Agriculture Growth Corridor of Tanzania (SAGCOT) can benefit from UK investment into agriculture, renewable energy, research, logistics and packaging.
For more information on the High Level Prosperity Partnership with Tanzania contact Tanzania.firstname.lastname@example.org
2.6 United Kingdom
The UK is the world’s sixth largest economy and one of the biggest providers of development assistance. The UK government has put increasing trade and inward investment at the heart of its economic recovery plan while remaining committed to spending 0.7% of GDP on Official Development Assistance (ODA). Our industrial strengths lie in advanced manufacturing and engineering, oil and gas exploration, life sciences, the provision of financial and business services and education. Under its presidency of the G8 in 2013, the UK has prioritised action on tax, trade and transparency, key enablers of equitable economic development. We are therefore well placed to work with our partners in Africa to develop long term relations of mutual prosperity.
For more information on the High Level Prosperity Partnserships contact email@example.com
3. Priority Sectors
4. Working Across Government
The FCO, UKTI and DFID will work together to ensure that we align our diplomatic, commercial and development resources to deliver benefits for the partnership countries, businesses and the UK economy. We will work with partner governments to achieve shared priorities which match UK government and private sector expertise with the needs of and opportunities in their countries. We will work closely with business to inform them of potential investment opportunities in priority sectors agreed with the partner government such as extractives, agriculture, education and energy.