UNITED Kingdom Secretary of Development Priti Patel says no country can defeat grinding poverty without sustained economic growth.
According to a statement made available by the British High Commission in Lusaka, the UK has announced a new partnership to generate investment in developing countries.
“The partnership should also lead to more businesses from Africa and South Asia being able to borrow in London, in the currency that suits
them best…no country can defeat grinding poverty without sustained economic growth, jobs and investment opportunities are vital to
helping the world’s poorest people stand on their own two feet,” Patel said.
According to the statement, the new partnership is designed to help generate much needed business investment in developing countries to help them stand on their own.
She urged the City of London to rise to the challenge of becoming the global financial centre for the developing world.
“Now is the time for UK businesses to seize the opportunities offered by Africa, and the UK Government is supporting the City of London to
become the global financial centre for the developing world,” said Patel at the London Stock Exchange.
“This will help Africa industrialise faster, trade more and create millions of jobs, driving the continent forward to a future of prosperity and helping some of the world’s poorest countries stand on their own two feet.”