UK aid budget could provide guarantees for investors, says AFC CEO Samaila Zubairu

By Kanika Saigal
Posted on Thursday, 28 July 2022 20:17, updated on Tuesday, 2 August 2022 14:31

Samaila Zubairu, CEO of the Africa Finance Corporation
Samaila Zubairu, CEO of the Africa Finance Corporation (rights reserved)

Samaila Zubairu, CEO of the Africa Finance Corporation (AFC), the UK should use its aid budget to derisk investment into the continent.

The Africa Debate, held in London in July, reinforced the UK government’s political narrative about its relationship with emerging markets – moving from aid to trade.

As the secretary of state for international trade, Anne Marie Trevelyan, said in her speech: “The UK’s strategy is about building a sustainable, enduring and productive partnership […] in which we use trade’s power to make dependable friends to strengthen the rules-based order.”

For Samaila Zubairu, CEO of the Africa Finance Corporation (AFC) – a multilateral finance institution with its headquarters in Nigeria – the UK’s aid budget could play an important part in supporting investment in Africa.