Theresa May has called on private investors, including pension schemes, to commit more capital to Africa as she sought to drive up relations between the UK and the region.
Announcing her first intended post-Brexit trade deals - with Botswana, Lesotho, Namibia, South Africa, Swaziland, and Mozambique - May also committed the UK to a range of measures to boost investment in Africa, particularly in business and infrastructure.
The prime minister said she was seeking to make the UK the largest G7 foreign direct investor in Africa by 2020, and would work closely with the City of London to mobilise an additional £4bn of private sector investment.
While around £8trn of assets are managed by the City of London, only around 1% are invested in Africa, according to the Department for International Development (DfID), and so the government is keen to promote further investments by pension funds, insurance companies, and other private investors.
International development secretary Penny Mordaunt said investors could take advantage of "huge untapped potential" from the African market.
"There is a massive shortage of investment, infrastructure and jobs in these markets, and the City of London is uniquely placed to help fill this gap while earning benefits for the UK economy," she said.
"We're building mutually beneficial partnerships which are helping to stimulate long-term transformational growth and create good jobs for people in the world's poorest countries, while also allowing UK investors to access the wealth of opportunity offered by African countries."
The department added greater investment could also boost returns for the UK's pension pots, while also transforming Africa for the long-term.
Across all its planned initiatives, the government anticipated around £8bn of investment in African countries between 2018 and 2021.
Morningstar Investment Management (MIM) has launched a range of three multi-asset funds that will blend active and passive strategies to offer advisers low-cost solutions.
The government will set up an infrastructure bank to support investment and to co-invest alongside investors including pension funds.
The Retail Prices Index (RPI) will be reformed and aligned with the housing cost-based version of the Consumer Prices Index, known as CPIH, by 2030, the Treasury has confirmed.
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