British PM to Unveil UK/Nigeria $2.6m fintech Partnership

As part of her visit to Nigeria on a three-day, three-nation trip to Africa, the British Prime Minister, Theresa May will visit Lagos.

The premier, who is currently in a meeting with President Muhammadu Buhari at the presidential villa, Abuja, will fly to Lagos where she will meet with business leaders and announce the formation of a U.K.-Nigeria fintech partnership.

The fintech partnership which is 2 million pounds ($2.6 million) is to support Nigerian innovators. She will also visit the securities exchange company FMDQ in Lagos.

“Already the finance and business links between Lagos and London are bringing enormous benefits to businesses and people in the U.K. and in Nigeria and today’s announcements deepen this burgeoning partnership even further,” May said.

The Nigerian government had also announced that Buhari and May would sign vital defence and economic agreements between Nigeria and the UK.

May is expected to push the agenda of Britain becoming the biggest investor in Africa out of the countries in the Group of Seven nations, overtaking the United States, by using the aid budget to help British private sector companies invest in Africa.

“I am unashamed about the need to ensure that our aid programme works for the UK,” May will say in her speech, according to extracts released by her office.

This is her first visit to Africa since she became prime minister in 2016.

She is in a company of a 30-man business delegation as part of her efforts to “deepen and strengthen” partnerships around the world as the UK prepares to leave the European Union (EU) next year.

May is expected to leave the country on Thursday and fly to Nairobi to meet with Kenyan President Uhuru Kenyatta.
Guardian