Companies to Inspire Africa 2019 report was launched on 16 January 2019 at the London Stock Exchange. The report is an annual list of the ‘most inspiring small and medium sized enterprises’ in Africa. Out of the 360 African companies featured, 66 were Kenyan. They include; Africa’s Talking, 4G Capital, Chandaria Industries, Nairobi Hospital,Quest Works, Optiven Group, Bonfire Adventures, Bitpesa, Cellulant, M-Kopa Solar, Goodlife Pharmacy, Twiga Foods, Wananchi Group among others.
The purpose of the report is to showcase Africa’s numerous opportunities to potential investors. Some of the attendees at the event were; International Development Secretary, Penny Mordaunt, UK officials, and African representatives.
In recent years, the UK has increased its ties with Kenya and other African countries. In 2018, the UK Prime Minister, Theresa May visited several African countries including Kenya. She spent time with Business leaders, political leaders and some young people and collected views on how to enhance UK’s partnership with Africa.
The UK is also committed to developing Capital Markets in Africa. For example, in 2018, the London Stock Exchange partnered with the Nairobi Securities Exchange. It was LSE’s second partnership with an African exchange after its successful deal with the Casablanca Stock Exchange in 2016. In her speech, Penny Mordaunt noted that the Bank of England had partnered with some African Central Banks “to share regulatory expertise and enhance financial stability.”
During the launch of the report, the UK announced an investment worth Ksh262 million (£2 million) into MFS Africa, a pan-African mobile money transfer company. The move aims to bring down the cost of transferring money across Africa.
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