In French-speaking West and Central Africa, UK Export Finance (UKEF) has made considerable strides in increasing support for British exports to the region.
According to Steven Gray, who is UKEF’s West African regional lead, as of the end of the 2023-2024 financial year, the cumulative exposure of this state-backed organization in Francophone Africa surged to £1 billion. This is a significant growth from £3 million recorded during 2017-2018.
The increase demonstrates the UK’s commitment to explore new markets for its exports, as well as diversify trade relationships.
Although China remains dominant when it comes to lending money for infrastructure projects in this area, on the other hand, the UK’s increasing engagement with Francophone African nations suggests an ambition to become part of their economic development.
