Question

how can africa benefit from the UK leaving the EU ?

Answer 1

UK leaving the EU gives Africa a chance to re- negotiate more equitable trade deals.

Initially there was fears that Brexit would be harmful to the South African economy because of the threat of a decline in European economic growth as a result of Brexit. But those fears have been allayed more recently as we have seen increased interest by the British in South Africa, The latter could indeed result in more trade, more investment which would lead more jobs.

African exports to the EU have increased substantially in recent years, from €85 billion in 2004 to more than €150 billion in 204. This recent trade and integration developments should raise economic activity and competitiveness in non extractive sectors, leading to higher GDP growth and greater economic diversification. They are intended to boost intra- African trade, particularly in goods, and may increase African trade with the EU and Britain. Also the Tripartite Free Trade agreement has created a free trade zone stretching from Cape Town to Cairo, covering 26 countries and representing almost half of African Union member states. This agreement also promises to remove trade barriers within this extended region and increase market size and economic activity. Critically it will reduce the cost of goods traded within the affected zones, It is a key achievement in the rationalisation of Africa’s trade agreement landscape.