Finance

London Stock exchange on a roadshow in Africa to woo large local firms

Wednesday, 22 May 2019 18:07
London Stock exchange on a roadshow in Africa to woo large local firms

(Ecofin Agency) - Officials from the London Stock Exchange have initiated a roadshow in Africa to woo large local firms, Bloomberg reported on May 21, 2019.

According to the Director of Emerging Markets and International Markets Ibukun Adebayo, these officials will visit Nairobi and Luanda, the capitals of Kenya and Angola respectively, after a similar visit to South Africa two months ago. They also plan future stops in Abidjan, Cairo, Casablanca.

“We are banking on partnerships with African exchanges, including those in Nigeria and Kenya, for dual listings,” he added.

The official explained that the prime targets are large firms with an international expansion strategy.

“If a company has an international strategic growth plan, then the LSE is a perfect vehicle for the company to come and list,” Ibukun Adebayo said.

With 115 African firms whose total market capitalisation is £165 billion, listed on the London stock exchange, this exchange is the second most important for the continent after Johannesburg.

Let’s note that various firms like Dangote Cement, National Oil Corporation of Kenya and Econet Wireless have already announced their will to join the exchange. 



 
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