London Stock Exchange Group Welcomes Akinwumi Adesina, President of the African Development Bank, celebrating partnership with LSEG

London, United Kingdom, 22 January 2020 – Don Robert, Chairman of London Stock Exchange Group welcomed the president of the African Development Bank to open markets for trading at London Stock Exchange on Wednesday 22 January.

The reception in London followed the African Development Bank’s Africa Investment Forum, the Bank’s innovative market-place for accelerating investment into the continent, playing a valuable role in convening investors and corporates and removing the bottlenecks to investments and enabling a free flow of long-term capital.

The 2019 edition of the Forum held in Johannesburg, South Africa, saw investor interest secured in deals valued at $40.1 billion. Mozambique featured strongly in the 2019 edition with state oil and fuel company Empresa Nacional de Hidrocarbonetos (ENH), tabling the largest deal worth $24.6 billion.

Wrapping up a three-day visit to the UK, during which he attended the first UK-Africa investment Summit, Bank president Dr. Akinwumi Adesina lauded the possibilities of continued collaboration with London Stock Exchange Group.
Don Robert, Chairman, LSEG, said: “Deep and sustainable capital markets are key to supporting African companies and infrastructure. We look forward to continuing to play our part in the development of these markets and attracting investment to Africa. As such, we’re delighted to continue our collaboration with the African Development Bank, which has now formally become a member of LSEG’s Africa Advisory Group.”

“My ringing of the bell here today marks the beginning of a new exiting, strategic, and impactful engagement between the African Development Bank and London Stock Exchange to jointly expand wealth creation in Africa and the UK,” Adesina said.

Looking ahead, the Bank chief said it would be working with LSEG’s Africa Advisory Group (LAAG) to attract a bigger share of the $5 trillion global Exchange Traded Fund Assets under management into African capital markets.

The Bank became a formal member of LAAG, an advocacy group which serves as a platform to enhance the development of African capital markets, boost trade and investment flows between the UK and Africa on Tuesday.

Adesina said the synthetic synchronization of £1 billion issued by the Bank had attracted global institutional investors to look at infrastructure in Africa. “We are excited about the recent listing of Kenya’s Acorn Holdings, the country’s first green bond in January 2020,” he added, then also touched on the the Africa Investment Forum.

For Chinelo Anohu of the African Investment Forum, the visit to London Stock Exchange forms part of the Bank’s efforts to expand and deepen its relationships with foreign investors. “With its unmatched growth and unparalleled investment opportunities, the next decade will, with no doubt, be Africa’s decade. Today’s ceremony signals the start of a new dawn for Africa, a continent that has embarked on an irreversible path to bring about lasting economic transformation,” she concluded.

“The city of London is the financial center of choice for Africa,” said Matthew Rycroft CBE, Permanent Secretary at the Department for International Development.

On the recently concluding UK-Africa Investment Summit, Rycroft said “We are delighted with our partnership with the Bank and at the Summit, we made some extremely significant announcements …We announced commercial deals worth £6.5 billion and there are many more in the pipeline… But it is not just about sums of money; it is also about ensuring that our investments are sustainable and that they enable real sustained growth in the economies of Africa.”

One hundred and twelve African companies are listed on London Stock Exchange, with a market capitalization of £125 billion. In 2019, two African telecommunications companies raised £800 million in capital through IPOs in London.

Several distinguished guests were present at the ceremony, including Nikhil Rathi, CEO London Stock Exchange plc, and Suneel Bakhshi, Chair, LSEG International Advisory Groups.

Looking for new and recent issues?

More recent

London Stock Exchange Group welcomes City Giving Day celebrating volunteering and philanthropy in the City of London

City Giving Day is The Lord Mayor’s Appeal’s annual celebration of philanthropy and giving which provides City organisations with an opportunity to reflect on everything they do to support their local communities and charities.

Championed by successive Lord Mayors of the City of London, City Giving Day has gone from strength to strength with a record 500 companies taking part this yea

Learn more
London International Shipping Week 2021

London International Shipping Week 2021 (LISW21) is seen throughout the world as the ‘must attend’ international maritime event of the year. London is the historic centre of global trade and world shipping and stands at the heart of international commerce. Its long-standing maritime institutions have been servicing the global shipping industry for centuries and that role co

Learn more
57.28
London Stock Exchange welcomes LungLife AI

London Stock Exchange welcomes LungLife AI, Inc. to trading on AIM. In July 2021 LungLife successfully raised gross proceeds of £17 million and the Company’s market capitalisation on admission was £45 million with a free float of 50.6%. 

LungLife AI’s mission is to make a significant impact in the early detection of lung cancer. The Company is a develop

Learn more
33.56
London Stock Exchange welcomes Likewise Group plc to AIM

Likewise is a UK distributor of both domestic and commercial floorcoverings and matting. It is challenging the established competitors in the industry by providing access to a wide choice of flooring from multiple manufacturers across the globe at competitive prices for its customers. The Directors believe they have an opportunity to build a

Learn more