London Stock Exchange Group has launched its new Africa Advisory Group which brings together African business leaders and senior representatives from pan-African economic bodies to discuss the challenges and opportunities presented by the development of Africa’s capital market infrastructure.
Xavier Rolet, CEO of London Stock Exchange Group was joined by distinguished business leaders, policymakers and investors from across Africa.
The Group will lead a number of initiatives to support capital markets development in Africa. Nigerian members of the Group include ABC Orjiako, Chairman, Seplat a Nigerian oil major, Kola Karim, CEO, Shoreline Group a Nigerian energy and Infrastructure Company, Chinelo Anohu-Amazu, Director General, Nigeria Pension Commission and Oscar Onyema, President, African Securities Exchanges Association.
The Group’s members will meet over a two year period to develop a new leadership study which will deliver empirically grounded, actionable and Africa-specific policy recommendations.
Xavier Rolet, CEO, LSEG said: “Africa represents the single largest growth opportunity in the world. To realise its staggering potential, African economies will need a sustainable and transparent funding mechanism to deliver growth finance to the thousands of ambitious, entrepreneur-led companies taking root across the continent. Only by harnessing an efficient capital markets infrastructure can this happen in a rapid yet controlled manner. We believe that the leading thinkers gathered in our new Advisory Group will be at the forefront of this evolution – a project and a process that London Stock Exchange Group is fully committed to supporting.
James Duddridge MP, Parliamentary under Secretary of State at the Foreign and Commonwealth Office “The British Government is committed to assisting in the development of African capital markets. They have a vital role to play in funding new and growing businesses and the infrastructure development we all hope to see in Africa. This is an important initiative by the London Stock Exchange and we are delighted to offer our support. We look forward to working with the Africa Advisory Group and to working with the London Stock Exchange to implement its recommendations.”
London Stock Exchange Group has a long history of supporting investment in African companies and the development of African capital markets. LSEG’s Millennium IT capital markets technology is used by 12 African securities exchanges including Johannesburg Stock Exchange, Africa’s largest; Bank of Ghana, Botswana Stock Exchange, Bourse de Casablanca, Egyptian Stock Exchange, Lusaka Stock Exchange, Mozambique Stock Exchange, Nairobi Stock Exchange, Namibia Stock Exchange, Nigerian Stock Exchange and Uganda Securities Exchange.
In June 2014, LSEG signed a strategic agreement with Casablanca Stock Exchange to share its expertise on the full exchange business chain, from listing to trading, and from clearing to settlement and custody with a commitment to position Casablanca’s capital markets and financial infrastructure as a regional hub.
There are 113 African companies listed or that are trading on LSE – more than on any other international stock exchange.
These companies have a total market capitalization of over US$200 billion, and in the last 10 years have raised more than $26 billion in the LSE.
