African nations could lose $420m in a no-deal Brexit - but SA could be among the winners, says study | Fin24
 
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African nations could lose $420m in a no-deal Brexit - but SA could be among the winners, says study

Apr 11 2019 15:23
Eric Ombok

Total export losses from 20 African countries could be as much as $420m - some R5.9bn - according to a study by a United Nations agency. Morocco, Ghana and Tunisia are among African nations that would lose the most if the UK doesn’t negotiate a deal by the time it has to exit the European Union.

However, says the UN Conference on Trade and Development, 11 nations on the continent would boost their exports by a total of $3.66bn - over R51bn - led by South Africa, Mauritius and Botswana.

"A no-deal Brexit could damage smaller economies trading with the United Kingdom," the agency said in a statement. The UK’s intention to lower most-favored-nation tariffs could increase the competitiveness of some of its trading partners, UNCTAD said.

Many developing nations exports enjoy favorable market access to the UK thanks to bilateral trade agreements and because of EU unilateral preferential schemes.

"Countries wanting to retain this market access need to negotiate - and quickly - with the UK," UNCTAD said.

united nations  |  theresa may  |  africa economy  |  brexit
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