LSEG launches Africa Advisory Group to boost African capital market development

  • 12 member advisory group includes senior African business leaders and organisations
  • Group’s launch receives backing of UK Government
  • Group to deliver empirically grounded, actionable and Africa-specific policy recommendations

London Stock Exchange Group today held the inaugural session of 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. 

Advisory Group members:

Corporates:

  • Naguib Sawiris, CEO, Orascom – Major Egyptian conglomerate
  • ABC Orjiako, Chairman, Seplat – Nigerian oil major
  • Kola Karim, CEO, Shoreline Group – Nigerian energy & infrastructure company
  • Brahim Benjelloun, General Manager, BMCE Morocco – One of Morocco’s largest banks
  • Ahuti Chug, Executive Director, Mara Group – Pan-African business services company

Governmental & International organisations:

  • Chinelo Anohu-Amazu, Director General, Nigeria Pension Commission
  • Fatima Hara Acyl, Commissioner, African Union
  • Richard Sezibera, Secretary General, East Africa Community – Regional intergovernmental organisation  
  • Oscar Onyema, President, African Securities Exchanges Association

Investors:

  • Ian Greenstreet, Founder & Chairman, Infinity Capital Partners – Global corporate finance firm with significant investments across Africa
  • Sev Vettivetpillai, Partner, Abraaj Group, Global corporate finance firm with significant investments across Africa
  • Mutuma Marangu, Private Investor

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 MillenniumIT 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 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 on our markets.

 

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For further information: 

Media

 

Ed Clark

+44 (0)20 7797 1222

newsroom@lseg.com

Notes to editors:

About London Stock Exchange Group:

London Stock Exchange Group (LSE.L) is an international markets infrastructure business. Its diversified global business focuses on capital formation, intellectual property and risk and balance sheet management. LSEG operates an open access model, offering choice and partnership to customers across all of its businesses. The Group can trace its history back to 1698.

The Group operates a broad range of international equity, ETF, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS (Europe's leading fixed income market); and Turquoise (a pan-European equities MTF). Through its platforms, LSEG offers market participants, including retail investors, institutions and SMEs unrivalled access to Europe’s capital markets. The Group also plays a vital economic and social role, enabling companies to access funds for growth and development.

Through FTSE Russell, the Group is a global leader in financial indexing, benchmarking and analytic services with approximately $10 trillion benchmarked to its indexes. The Group also provides customers with an extensive range of real time and reference data products, including SEDOL, UnaVista, and RNS.

Post trade and risk management services are a significant part of the Group’s business operations. In addition to majority ownership of LCH.Clearnet Group, a multi-asset global CCP operator, LSEG owns CC&G, the Italian clearing house; Monte Titoli, a leading European custody and settlement business; and globeSettle, the Group’s CSD based in Luxembourg.

LSEG is a leading developer and operator of high performance technology solutions, including trading, market surveillance and post trade systems for over 40 organisations and exchanges, including the Group’s own markets. Additional services include network connectivity, hosting and quality assurance testing. MillenniumIT, GATElab and Exactpro are among the Group’s technology companies.

Headquartered in the United Kingdom, with significant operations in North America, Italy, France and Sri Lanka, the Group employs approximately 5,500 people.

Further information on London Stock Exchange Group can be found at www.lseg.com