Commentary: "Investing in Africa on its own terms", 20 Oct 2014

The "Africa Rising" narrative has probably never been stronger but as the continent is progressing in its shift from aid to trade and investment, pressing issues such as sustainability, social impact and the Rule of Law also need to gain momentum. While it is time for Africa's economic success story, it is also time for Africa to make the key decisions that will set its future path: how it manages its resources; how it translates economic growth into genuine human development; and how it delivers long standing social returns for the benefit of its people...Investing with impact should be the way forward for any of the continent's partners. London has been a historical centre of world trade for centuries and UK businesses are globally recognised for their expertise in sectors such as oil and gas, green energy, agriculture and infrastructure, often using cross-sector expertise to add value to benefit their African partners. But it is not the only way British companies can demonstrate their competitive advantage. UK companies can also lead the way on other pressing issues such as governance, corporate social responsibility and human rights. We're already in the vanguard, as last year, for example, the UK was the first country in the world to adopt a National Action Plan to implement John Ruggie's UN Guiding Principles on Business and Human Rights. The plan not only aims to promote responsible business in the UK but also in overseas operations and within UK corporation supply chains.