London Courts Africa’s Rising Economic Power as Khan Hosts Historic Business Summit

By: Michael Mike

In a bold push to cement London’s status as the premier global gateway for African investment, business and innovation, Mayor Sadiq Khan on Wednesday convened the first-ever London-Africa Business Summit, bringing together leading investors, policymakers and entrepreneurs from across the African continent and the United Kingdom amid intensifying global competition for Africa’s rapidly expanding markets.

The landmark gathering, hosted at City Hall and attended by more than 200 business and political leaders, marks a new chapter in economic relations between London and Africa, as both sides seek to capitalize on growing trade opportunities, rising investment flows and the continent’s emergence as one of the world’s most significant engines of future growth.

The summit comes at a time when Africa’s economic importance is attracting unprecedented international attention. With its youthful population, expanding middle class, accelerating urbanization and increasing digital transformation, the continent is widely projected to account for a significant share of global economic growth in the coming decades.

Against this backdrop, London is moving aggressively to position itself as Africa’s preferred international financial and commercial hub.

Addressing delegates, Khan described Africa as one of the world’s most dynamic growth regions and reaffirmed London’s commitment to supporting African companies seeking global expansion.

“I am proud to host City Hall’s first-ever London-Africa Business Summit, bringing together investors, entrepreneurs and businesses to showcase London as the best city in the world for African companies to expand internationally and attract investment,” the mayor said.

The summit represents a major outcome of Khan’s groundbreaking 2025 trade mission to Nigeria, Ghana and South Africa — the first official African trade mission by a serving Mayor of London. The visit was designed to strengthen commercial partnerships and deepen engagement with some of Africa’s largest and fastest-growing economies.

The strategy is already delivering measurable returns.

Officials disclosed that African companies have invested more than £30 million in London through foreign direct investment since the mayor’s visit last year, strengthening confidence in the city as a destination for African capital and enterprise.

The summit also underscored London’s dominance as the leading international marketplace for African businesses. According to figures presented at the event, 117 African companies are currently listed on the London Stock Exchange, more than on any other stock exchange worldwide.

Those listings span strategic sectors including telecommunications, banking, energy, mining, technology and infrastructure, reflecting London’s long-standing role as a bridge between African enterprise and global capital.

The significance of that position becomes even more evident when compared to other financial centres. Fewer than 20 African firms are listed on the New York Stock Exchange, highlighting London’s unique relationship with African markets and investors.

Beyond financial markets, participants examined growing opportunities for collaboration in technology, renewable energy, healthcare, education, creative industries, agribusiness and infrastructure development.

Representatives from Ghana’s Ministry of Trade, the Nigerian Exchange Group, the London Africa Network, SOAS University of London and investment firms from both regions participated in discussions focused on unlocking new avenues for growth and investment.

Economic experts at the summit noted that Africa’s transformation is no longer viewed solely through the lens of development but increasingly as a strategic economic opportunity.

Home to some of the world’s fastest-growing cities and a population expected to surpass 2.5 billion by 2050, Africa is becoming a focal point for global investors seeking new markets, innovation hubs and long-term returns.

The growing importance of the continent is already reflected in trade figures.

Despite a challenging global economic environment, total UK-Africa trade reached approximately £52 billion in 2025, while British exports to African countries climbed to nearly £26.2 billion, demonstrating the increasing strength of commercial ties between both regions.

For Britain, the relationship extends beyond economics.

The UK hosts one of the largest African diaspora populations in Europe, including an estimated 215,000 Nigerians, creating deep cultural, social and business connections that continue to strengthen bilateral relations.

Business leaders attending the summit argued that these human connections provide a powerful foundation for future economic cooperation.

Mark Smithson, Country Director for Nigeria and Anglo West Africa at the UK Department for Business and Trade, said the forum had created a platform capable of translating ambition into tangible economic outcomes.

According to him, stronger partnerships between British and African businesses would drive sustainable growth, attract investment and create jobs across both regions.

Similarly, financial institutions highlighted growing investor interest in Africa’s expanding markets.

Chief Executive Officer of FirstBank UK, Olukorede Adenowo, said London remains a critical gateway for African businesses seeking international expansion, while Africa continues to offer some of the most attractive long-term investment opportunities globally.

The summit also aligns with London’s broader economic ambitions.

Under the city’s Growth Plan, London aims to attract enough investment to add £107 billion to its economy by 2035 and create 150,000 new jobs by 2028. African investment is expected to play an increasingly important role in achieving those targets.

For many observers, the significance of the inaugural London-Africa Business Summit extends far beyond investment announcements and networking opportunities.

It reflects a strategic shift in how global cities are engaging with Africa — not as a continent in need of assistance, but as a rising economic force capable of shaping future patterns of trade, finance and innovation.

As competition intensifies among global financial centres seeking deeper access to African markets, London is making a calculated bet that its historical ties, financial expertise and multicultural character can secure it a leading role in Africa’s economic future.

The success of the summit suggests that bet may already be paying off.

London Courts Africa’s Rising Economic Power as Khan Hosts Historic Business Summit