London will host its first-ever London-Africa Business Summit next year, Mayor Sadiq Khan announced during a trade mission across the African continent.

Speaking from Lagos, Nigeria, where his investment trip began, Khan said the summit aims to unlock “the huge economic opportunities that a strong, mutual relationship with the continent can bring.” The mayor will also visit Accra in Ghana, and Johannesburg and Cape Town in South Africa during the tour.

The summit, to be held in London, will bring together entrepreneurs, investors, government officials, and trade organizations from across Africa’s 54 nations. According to City Hall, the goal is to attract greater foreign investment to London and strengthen trade relationships with the continent.

Currently, Africa accounts for just 1.25% of foreign direct investment into London, according to the mayor’s office.

“Expanding ties with Africa will be key to delivering our international trade ambitions,” Khan said. “It will help create thousands of good jobs over the next five years and beyond. London also has a rich history with Africa through our vibrant diaspora communities.”

While welcoming the cultural significance of the trip, Conservative Shadow Chancellor Mel Stride suggested the mayor should remain focused on local issues, stating, “The mayor should be in London with his hands on the tiller to tackle problems like shoplifting.”

Local entrepreneurs have responded positively to the initiative. Kolawole Ajayi, a Nigerian chef and restaurateur with two restaurants and a food stall in Peckham, south London, expressed optimism about the strengthened ties.

“Nigeria has a lot of brilliant minds,” he said. “If London can tap into that talent and create opportunities, the growth will be enormous. It’s not just about outsourcing to India anymore—Nigeria has brains too.”

Foreign Secretary and Tottenham MP David Lammy also endorsed the summit, describing London as “a global city where the world comes to do business.”

In 2024, trade between the UK and Africa totaled £49 billion, according to the Office for National Statistics. Mayor Khan emphasized the importance of tech in driving future trade growth.

“Lagos is the number one tech city in Africa, and London leads in Europe,” he said. “We’re looking to build partnerships that generate wealth, prosperity, and jobs.” Photo by U.S. Embassy London, Wikimedia commons.