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<p>The United Kingdom is in last-ditch Brexit talks to finalise its future ahead of the December 31st deadline. Meanwhile, data from the National Bureau of Statistics show that the UK emerged as the top source of capital investment into Nigeria, accounting for just over 40 per cent of the total capital inflows in the third quarter. As Africa gets set for trade under the African Continental Free Trade Agreement in a couple of weeks, we&#8217;ll find out how the United Kingdom intends to work with Nigeria going forward. Helen Grant the UK Prime Minister&#8217;s Trade Envoy to Nigeria joins CNBC Africa for more.</p>


AfCFTA & Brexit: How the U.K plans to deepen trade relations with Nigeria

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<p>The East African Community member states have up to five years to join the UK-Kenya trade agreement due to be signed ahead of the Brexit transitional deadline. The new document has also shielded budgetary cuts that had been imposed on Trade Mark East Africa’s work in Kenya, allowing continued regional trade facilitation by the organization. Communication Consultant, Alex Owiti joins CNBC Africa for more.</p>


What the UK-Kenya trade deal means for EAC member states


<p>Report by Elliot Smith</p>



<p><strong>Key Points</strong></p>



<ul><li>The pound fell 1.5% on the session to hit $1.1873, its lowest level since an overnight flash crash in October 2016 and below the levels seen in the aftermath of the Brexit referendum.</li></ul>



<ul><li>Fears over the economic fallout from the coronavirus pandemic and radical monetary policy action from the U.S. Federal Reserve are exerting downward pressure.</li></ul>



<p><a href="https://www.cnbc.com/quotes/?symbol=GBP=">Sterling</a> slid below $1.19 on Wednesday to hit its lowest point since October 2016 as liquidity concerns sent the <a href="https://www.cnbc.com/quotes/?symbol=.DXY">dollar</a> surging and hammered currencies around the world.&nbsp;</p>



<p>The pound fell 1.5% on the session to hit $1.1873, its lowest level since an overnight flash crash in October 2016 and below the levels seen in the aftermath of the <a href="https://www.cnbc.com/brexit/">Brexit</a> referendum.</p>



<p>Fears over the economic fallout from the coronavirus pandemic and radical monetary policy action from the U.S. Federal Reserve are exerting further downward pressure over the past two weeks as investors flock to the surety of the dollar.</p>



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<p>The greenback surge has sent currencies around the world tumbling, as the world’s most liquid currency notched new multi-year highs against both the <a href="https://www.cnbc.com/quotes/?symbol=AUD=">Australian</a> and New Zealand dollars, while the Norwegian crown hit an all-time low against the U.S. currency.</p>



<p>The dollar index on Wednesday advanced to 100, its highest level since April 2017.</p>



<h2 class="wp-block-heading">Sterling rebound?</h2>



<p>The main reason for dollar demand is liquidity concerns amid the volatility arising from the pandemic. In such volatile circumstances, companies and investors need dollars to settle transactions, according to UBS strategists Dean Turner and Thomas Flury.</p>



<p>UBS suggested in a note Monday that sterling is now trading at a more-than-20% discount versus the dollar, but Turner and Flury projected a rebound once the global economy stabilizes.</p>



<p>“As the Fed and other central banks coordinate to provide dollar liquidity across the globe through tools such as swap lines, we expect those concerns to dissipate, which can then lead to a rebound that can be as violent as the fall in recent days,” Turner and Flury added.</p>



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<p>This article was first published on CNBC <a href="https://www.cnbc.com/2020/03/18/sterling-falls-to-levels-not-seen-since-2016-as-dollar-strength-hammers-global-currencies.html">https://www.cnbc.com/2020/03/18/sterling-falls-to-levels-not-seen-since-2016-as-dollar-strength-hammers-global-currencies.html</a> and is republished with its permission.</p>


Sterling falls to levels not seen since 2016 as dollar strength hammers global currencies

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In Kenya, firms dealing in flowers have registered a 60 per cent drop in production this season following heavy rains, plagued by pests and diseases, which in turn hurt supplies and increase the cost. Britain is the second largest export destination for Kenya&#8217;s cut flowers after the Netherlands, taking almost 18 per cent of the flowers produced in the country. Alex Owiti, Communication Consultant of the Horticulture Industry in East Africa joins to share how much of an impact the drop is to the economy as well as if Brexit will affect the Kenya flower trade.</p>


What’s behind Kenya’s 60% drop in flower production?

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As the dust of Britain’s exit from the European Union settles we are discussing what trade relations between the U.K and South Africa is going to look like for the foreseeable future. Joining CNBC Africa for more is Lord Peter Hain a former UK MP and visiting lecturer at GIBS Business School.</p>


Lord Peter Hain: Brexit has been a disaster for Britain, here’s why

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As the UK officially leaves the European Union today, Marta Foresti, Director of ODI Europe at the Overseas Development Institute joins CNBC Africa to discuss what lies ahead for Britain and the future of its relationship with Africa.</p>


Overseas Development Institute: How Brexit impacts UK-Africa relations

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It’s the last day of January and still no word on the re-opening of Nigeria&#8217;s borders. The government of Nigeria closed its land borders in August last year to check the activities of smugglers. However, Nigeria&#8217;s government said the borders will remain closed until recommendations from the Joint Patrol Committee were received. Sam Chidoka, Managing Director of Kairos Capital joins CNBC Africa for more.</p>


How the border closure

How the border closure, Coronavirus outbreak impacts Nigeria’s economy

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Britain’s divorce from the European Union takes place today after an emotional debate that took place on Wednesday and a tumultuous three years of voting and a rotating door of prime ministers. Today marks the symbolic exit of Britain from the European Union as the official regulatory exit will take another 11 months to officially be parted from the EU. Deon Gouws, Chief Investment Officer at Credo Wealth joins CNBC Africa for more.</p>


Britain is leaving the EU today but Brexit is far from over

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Nigeria and UK investors signed commercial deals worth 324 million pounds at the just concluded UK-Africa Investment Summit according to a statement by the British Deputy High Commission. Ahead of Britain’s exit from the European Union – British Deputy High Commissioner, Harriet Thompson joins CNBC Africa to discuss ways the UK plans to consolidate its ties with Nigeria.</p>


Commissioner Harriet Thompson on strengthening ties between the UK & Nigeria

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<p>The UK-Morocco Business Dialogue aims to attract and engage in trade and investment opportunities for Morocco. The conference takes place just a day after the salient U.K Africa investment summit and Morocco stands to play an important role in the economic emergence of Africa. CNBC Africa’s Chris Bishop spoke to Minister Delegate for African Cooperation, Mohcine Jazouli.</p>


UK-Morocco Business Dialogue: Minister Mohcine Jazouli on opportunities for investment in Africa

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<p>On the side-lines of the UK-Morocco Business Dialogue in London, International Trade Minister, Conor Burns spoke to CNBC Africa’s Chris Bishop about what Brexit means for trade with Africa and why Morocco is pivotal to the United Kingdom when looking to enter the African marketplace.</p>


UK-Morocco Business Dialogue: Conor Burns on where the UK sees business opportunities in Morocco


<p>LONDON (Reuters) &#8211; Prime Minister Boris Johnson will call for deeper investment ties between Britain and Africa at a summit for leaders of 21 African countries on Monday that comes days before his country will leave the European Union.</p>



<p>After securing Britain’s departure from the EU, the world’s largest trading bloc, on Jan. 31, Johnson is keen to develop business ties with countries outside Europe.</p>



<p>At the summit in London, Johnson will call for Britain to be the “investment partner of choice” for Africa. He will highlight deals worth billions of pounds with countries on the continent, underlining the roles British companies are playing in providing anything from smart street lighting in Nigeria to environmentally friendly breweries in Kenya.</p>



<p>The prime minister will also announce an end to British support for thermal coal mining or coal power plants overseas, according to a statement issued before the summit’s start.</p>



<p>Reporting by Elizabeth Piper; Editing by Pravin Char</p>


UK’s Boris Johnson is pushing for deeper trade ties with Africa as Brexit nears

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<p>Prying eyes are on the UK as Brexit is set to take place on the 31st of January. However before the UK exits from the European Union (EU) they are hosting a UK-Africa Investment Summit to strengthen ties and showcase opportunities in Africa. Her Majesty’s Trade Commissioner for Africa, Emma Wade-Smith joins CNBC Africa for more.</p>


These are the key issues set to be discussed at upcoming UK-Africa Investment Summit

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<p>The election is won and the Brexit deal is done. Boris Johnson’s Conservative Party won a thumping victory in Britain’s general election – the biggest since the days of Margaret Thatcher – to give him the parliamentary muscle to push through Brexit by January 31st. It is the end of the road for Labour leader Jeremy Corbyn who will step down. The exit from one of the world’s largest trading blocs is likely to have implications for many African nations.</p>


The Tories have it – Boris Johnson returns to power with a stronger Brexit mandate

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<p>The Parliament of Rwanda is hosting the 55th Session of the Africa Caribbean Pacific Parliamentary Assembly and 38th Session of the ACP-EU Joint Parliamentary Assembly in Kigali. CNBC Africa&#8217;s Fiona Muthoni spoke to Pekka Haavisto the Minister of Foreign Affairs for Finland on the assembly, what impact Brexit will have on EU arrangements with African countries and the Economic Partnerships Agreement deal between the East African Community (EAC) and the EU that has been pending.</p>


Pekka Haavisto on what attracts  Finnish investors to Rwanda

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<p>U.K Prime Minister, Boris Johnson has re-emphasised his argument that delaying Brexit again rather than leaving today will cost the U.K a billion pounds per month in its budget contributions to the European Union (EU). Meanwhile, EU has granted a Brexit extension of January 31st. Kayode Akindele, Partner at TIA Capital joins CNBC Africa for more.</p>


The cost of Brexit delay on the UK

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<p>Today was meant to mark the day that Britain was due to depart from the European Union. But instead the fate of Britain’s departure will be decided in an election taking place in December.</p>


Brexit

AfCFTA & Brexit: How the U.K plans to deepen trade relations with Nigeria

What the UK-Kenya trade deal means for EAC member states

Sterling falls to levels not seen since 2016 as dollar strength hammers global currencies

What’s behind Kenya’s 60% drop in flower production?

Lord Peter Hain: Brexit has been a disaster for Britain, here’s why

Overseas Development Institute: How Brexit impacts UK-Africa relations

How the border closure, Coronavirus outbreak impacts Nigeria’s economy

Britain is leaving the EU today but Brexit is far from over

Commissioner Harriet Thompson on strengthening ties between the UK & Nigeria

UK-Morocco Business Dialogue: Minister Mohcine Jazouli on opportunities for investment in Africa

UK-Morocco Business Dialogue: Conor Burns on where the UK sees business opportunities in Morocco

UK’s Boris Johnson is pushing for deeper trade ties with Africa as Brexit nears

These are the key issues set to be discussed at upcoming UK-Africa Investment Summit

The Tories have it – Boris Johnson returns to power with a stronger Brexit mandate

Pekka Haavisto on what attracts Finnish investors to Rwanda

The cost of Brexit delay on the UK

What’s next for Brexit as Britain heads to the polls?

News Tips

Advertise With Us

Brexit

AfCFTA & Brexit: How the U.K plans to deepen trade relations with Nigeria

What the UK-Kenya trade deal means for EAC member states

Sterling falls to levels not seen since 2016 as dollar strength hammers global currencies

What’s behind Kenya’s 60% drop in flower production?

Lord Peter Hain: Brexit has been a disaster for Britain, here’s why

Overseas Development Institute: How Brexit impacts UK-Africa relations

How the border closure, Coronavirus outbreak impacts Nigeria’s economy

Britain is leaving the EU today but Brexit is far from over

Commissioner Harriet Thompson on strengthening ties between the UK & Nigeria

UK-Morocco Business Dialogue: Minister Mohcine Jazouli on opportunities for investment in Africa

UK-Morocco Business Dialogue: Conor Burns on where the UK sees business opportunities in Morocco

UK’s Boris Johnson is pushing for deeper trade ties with Africa as Brexit nears

These are the key issues set to be discussed at upcoming UK-Africa Investment Summit

The Tories have it – Boris Johnson returns to power with a stronger Brexit mandate

Pekka Haavisto on what attracts Finnish investors to Rwanda

The cost of Brexit delay on the UK

What’s next for Brexit as Britain heads to the polls?

News Tips

Advertise With Us

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