Free of the European Union (EU) framework, post-Britain Brexit is set to give Africa a fresh opportunity to negotiate future trade and cultural deals from a position of strength.
Speaking to Express.co.uk, African social and political commentator, Levi Kabwato, said: “A weak pound is good for Africa as it strengthens its negotiation power at the table, that is a good thing.
“Also the UK can get into direct agreements with countries of its choice without having to engage within the EU framework. So it’s a win-win situation for both.”
This comes as more British companies are choosing to invest in Ethiopia, which also boasts the cheapest electricity in the world.
The Ethiopian Embassy has named Diageo, Unilever, Heineken and Tesco as some of the companies investing in the prosperous African country.
UK leather company, Pittards, has been trading in Ethiopia for a century and has invested there for 11 years as the sheep in the African nation are well-suited to make gloves for them.
The company’s CEO, Reg Hankey, said: "With a weaker pound, we can capitalise on it and we can export more. We have five factories in Ethiopia employing 1,700 people and hope to employ 5,000 people in five years.
“We hope that many other retailers see Ethiopia as a potential supply source. The fact that Brexit has happened is making everyone consider what is going on and thinking about changing their supply chains. The uncertainty makes companies look at what else there is.
“There is opportunity in Africa and retailers should consider it.”
Mr Hankey said that there is a time advantage to trade with Africa compared with other places as the continent has a similar time zone to the UK and English is widely spoken.
The Ethiopian Embassy has cited the country as a good place to invest as the economy is growing, the population is the second biggest in Africa, the health system has improved, corruption levels are low and there is a growing middle class.
Press officer at the embassy, Gail Warden, added: "People are realising that there are real investment opportunities there."
Foreign Secretary Philip Hammond visited Ethiopia weeks before the monumental Brexit vote to discuss ways of strengthening economic ties.
Head of G10 Research at Standard Advisory London, Steve Barrow, has said that any trade deals with Africa would be re-negotiated on the same terms following Brexit.
He said: “They’re not going to be whacking big tariffs on imported Kenyan roses, for example.”
Although Mr Kabwato said that aid initiatives will suffer following Brexit, he said: “Less aid is a good thing for Africa, it will force us to become more innovative and less dependent."
Karen Taylor, the CEO of the Business Council for Africa, which supports 400 businesses in Africa, said: "Here at the Business Council for Africa, we are working closely with our partners in the UK Government, Europe and the private sector to ensure that building and deepening business relationships with Africa remains a priority in the post-referendum environment, irrespective of whether these relationships are developed on a bilateral or multilateral basis.
“We expect that there will be a period of uncertainty whilst the UK’s political leadership begins to address the enormous task ahead both at home and abroad. We are encouraged by the ongoing support being provided to UK businesses in Africa by our embassies, High Commissions and Prime Minister’s Trade Envoys.
“We very much hope that this support will continue over the coming months and years ahead.”
In recent years, Ethiopia has attracted investment from France for wind power, Iceland for Geothermal power and Italy for Hydroelectrics.
A spokesman for the Foreign and Commonwealth Office said: “While the nature of the UK’s relationship with the EU is still to be determined, we will want the strongest possible economic links with key partners across the world.
“Ethiopia remains a very valuable partner for the UK and we hope that this relationship will continue to go from strength to strength. Our trade and investment relationship is already well established; we currently have around 200 British companies operating in Ethiopia and the UK is the largest foreign investor in the country’s food and beverage industry.”