LES-listed firms with assets in Africa mobilized $26.1 billion over 10 years, Oscar Onyema revealed.

The chief manager of the Lagos stock market made the announced during a one-day event between his institution and the British stock market. A total of 112 companies operating in Africa are actually listed on the London Stock Exchange.

Recent listing operations include that of Egyptian firm Edita Food Industries (April 2, 2015) and Nigeriran firm Integrated Diagnostic Holding (May 6, 2015). In 2014, London and Nigeria’s stock markets signed an agreement facilitating double listing on both markets. Oil Company Seplat Petroleum was the first to raise funds ($500 million) in this framework.

Nigeria is ranked third in terms of number of African companies listed on the LES with eight companies, behind Egypt (11) and South Africa (28).

Nikhil Rathi, chief manager of the London market said his organization was well positioned to support the development of capital markets in Nigeria.

The London bourse also recently signed conventions with the Casablanca Stock Exchange as part of its strategy to support the development of financial markets in Africa.

Idriss Linge