£7bn cement giant all set to be listed in booming Brexit Britain
Britain received a Brexit boost last night after a leading nigerian tycoon pledged to list his £7billion firm on the London Stock Exchange.
and theresa May unveiled new agreements to ensure the City of London plays an even greater role in raising african finance after the UK leaves the EU.
the Prime Minister met businessman aliko Dangote who told her he would be listing his firm Dangote Cement in London. He joins more than 100 african firms who have done the same, meaning they will raise money in the Square Mile – boosting the British economy.
On a visit to the nigerian city of Lagos, Mrs May announced the first UK-africa financial technology partnership. She said: ‘already the finance and business links between Lagos and London are bringing enormous benefits to businesses and people in the UK and in nigeria. today’s announcements deepen this burgeoning partnership even further.
‘London is a world-leading financial centre and, as the UK leaves the European Union, it will play an even greater role in financing the fastest-growing economies across africa and the world.’
Mrs May visited securities exchange company FMDQ which is playing a central role in developing, driving and diversifying nigeria’s booming financial markets. UK- nigeria trade was worth £4.2billion last year and British companies including British airways, GSK, Shell, Diageo, Unilever and Standard Chartered have successful long- established operations in nigeria – many dating to the 1930s.
naStOn Martin will ‘thrive’ after Brexit and ‘ do Britain proud’, the company’s boss said yesterday as he pushed plans to float the firm on the stock market.
Dr andy Palmer said he would ‘capitalise on the advantages’ of Brexit as he set out his blueprint to target the world’s super-rich – with China, Japan and the US in his sights. He was unveiling plans to more than double production to 14,000 cars a year and increase jobs to 5,000. the £5billion flotation is ‘a key milestone’ for the 105-year-old firm, he stressed.
AFTER months of grandstanding over Brexit, Brussels appeared to climb down yesterday, saying it was ready to offer Britain an unprecedentedly close relationship.
Sterling rallied after Michel Barnier, the EU’s chief Brexit negotiator, hinted that the bloc would give way provided that the UK did not undermine the single market.
‘We are prepared to offer Britain a partnership such as there never has been with any other third country,’ he said in Berlin after a meeting with German foreign minister Heiko Maas.
He claimed this could include economic and foreign and security policy ties, adding: ‘We respect Britain’s red lines scrupulously. In return, they must respect what we are. Single market means single market. There is no single market a la carte.’
EU diplomats played down the significance of Mr Barnier’s remarks last night. But his intervention led to a rally in the value of the pound after it was hit by fears about the impact of a no-deal Brexit.
Sterling closed up by more than 1 per cent against the euro last night in the wake of Mr Barnier’s remarks.
A Government spokesman welcomed Mr Barnier’s comments, saying: ‘Both the UK and the EU are committed to reaching the best deal possible for both sides.
‘We have put forward our proposals for this deal in our White Paper and we stand ready to work at pace with the EU over the coming weeks.’
Last night, French President Emmanuel Macron was also reportedly poised to soften his line on offering Britain a postBrexit deal. A French diplomatic source indicated that he believed a no- deal exit would threaten the integrity of the EU, telling The Times: ‘He sees a no-deal scenario as something that would break links and poison relations when Europe needs to be united beyond the EU.’ Brexit Secretary Dominic Raab, who will meet Mr Barnier in Brussels tomorrow, also gave an upbeat assessment of their negotiations.
Giving evidence to peers on the Lords EU committee, Mr Raab said: ‘I’m confident that a deal is within our sights. We’re bringing ambition, pragmatism, energy and if it is matched, and I expect it will be, we get a deal.’
He acknowledged that talks to finalise a Brexit deal could ‘creep beyond’ the October deadline set by Britain and the EU. But he said he remained ‘stubbornly optimistic’ that a deal would be struck in time for the UK’s departure in March.
Labour peer Lord Liddle said Britain was ‘begging’ the EU for a deal because the alternative would result in ‘grave industrial consequences’ for the economy. However, Mr Raab hit back: ‘That’s hyperbole. We don’t beg and I certainly don’t beg.’
Tory MP and Brexiteer Michael Fabricant welcomed Mr Barnier’s ‘more optimistic tone’ last night, but added: ‘Words are one thing, deeds are another. We’ll all await the offer with interest.’ Theresa May’s deputy warned yesterday that Britain was likely to leave the EU without a deal if Brussels rejected the Chequers proposals, which include common trade rules.
Speaking to a French employer group David Lidington urged the EU to embrace Mrs May’s proposals, adding: ‘With seven months until the end of the Article 50 process and less than two months ahead of the October European Council, we face the choice between the pragmatic proposals we are discussing now with the European Commission or no deal.
‘Alternative models do not meet the level of ambition or the outcome we all want to see. So we need the EU to engage with us on our positive vision of the future relationship.’ He also gave a veiled warning to France that it would be hit hard by a nodeal Brexit – pointing out that the French have an annual trade surplus with the UK worth £5.5billion.
His comments came as Mr Raab played down reports that he was struggling to secure face-to-face time with Mr Barnier.
The Brexit Secretary, who said he had a ‘good professional and personal rapport’ with Mr Barnier, is said to have been frustrated at difficulty in securing meetings with his counterpart. Brussels sources confirmed yesterday that Mr Raab had only been offered a three-hour slot for tomorrow’s talks. But this was doubled after lobbying by his staff.
‘The UK has huge leverage’