The London Stock Exchange, the company that manages the UK financial market based in London, announced the establishment of an African Advisory Group, whose mission is to reflect on ways and means to be explored to boost financial markets in the region.
The first meeting of this group was held there seven days in London, in the presence of public and private decision-makers of this country. In this committee, there are big name investment and African listed companies, including including Mr Naguib Sawiris, CEO of Orascom; Dr. Ambrosie Bryant Chukwueloka Orjiako, Director of Seplat Petroleum, Mr Brahim Benjelloun, General Manager of BMCE Bank; as well as Mr Oscar Onyema, Chief Executive Officer of the Nigerian Stock Exchange also in the capacity of President ofAfrican Securities Exchanges Association, and Mrs Fatima Acyl Hara, Commissioner for Trade and Industry of the African Union (AU).
“Africa is the only real opportunity for growth in the world. The economies of its countries need modern, transparent financing mechanisms and it is only by employing is to establish an efficient infrastructure of the financial market,we will reach it quickly and better controlled” Said Xavier Rolet, CEO of London Stock Exchange Group.
James Duddridge, British Member of Parliament and Deputy Secretary of State for Foreign and Commonwealth Affairs, said, meanwhile, that the government of his country will continue to support African countries in this direction. Technically, the London Stock Exchange is in partnership with a dozen African financial markets and MilleniumIT solution operates on the Johannesburg Stock Exchange, several markets in East Africa, Nigeria Stock Exchange and the Casablanca Stock Exchange.
There are currently has 113 African companies whose securities are listed on the London Stock Exchange with a market capitalization of $200 billion. Over the past decade,these African companies have mobilized nearly $ 26 billion.