IN a setback for businesses and organisations invested in Africa, the eagerly anticipated United Kingdom Africa Investment Summit 2024 (UKAIS), slated for April 24-25 in London, has been postponed. The event, which promised a rare opportunity for collaboration and attention from the government, has left many stakeholders in a state of uncertainty.
A statement on the UK government website simply said, ‘The UK-African Investment Summit (UK-AIS) due to take place in April 2024 is postponed to a later date, which will be announced in due course.’
However, sources reveal that the team from UK’s Foreign, Commonwealth and Development Office (FCDO) had meticulously crafted plans for over a year in preparation for the summit. Sponsorship negotiations were underway, a comprehensive programme was in development, a sizable venue had been secured, and invitations had been dispatched to heads of state and government across 25 African nations, receiving positive feedback.
While the official explanation cited the need to ‘deconflict’ from other international obligations, no alternative event taking precedence has been identified. This postponement comes amidst a pattern of the British government scaling back on major engagements. UK’s Energy Secretary Claire Coutinho recently pushed back a global energy security summit originally slated for spring 2024 to the following year.
Additionally, a meeting of the European Political Community, involving 40 countries, remains unscheduled despite expectations for March or April, crucial for coordinating responses to the ongoing Ukraine conflict.
It appears that beyond Africa, the embattled Conservative Party, led by Prime Minister Rishi Sunak and senior ministers, is grappling with a multitude of pressing concerns.
With 2024 being an election year, speculation arises that domestic priorities might be overshadowing international commitments. While a May general election remains a possibility, the government seems inclined to delay until later in the year, aligning with Sunak’s absolute deadline of January 2025.
The postponement of the UKAIS underscores the complexities faced by businesses navigating political uncertainties while seeking to engage with Africa’s burgeoning markets.