Tanzanian delegation and The Rt Hon. Justine Greening MP open trading

  • London Stock Exchange Market Open

Monday 27th January 2014

In a keynote speech at the London Stock Exchange this morning, the Rt Hon Justine Greening MP, Secretary of State for International Development’s set out her Department’s new approach on working with private sector companies to support growth and create jobs in key developing countries.

As a first step in this project, over the last year the Department for International Development has worked together with the London Stock Exchange to develop a London Stock Exchange Group Academy programme for senior figures in Tanzania’s capital markets industry. The market opening this morning marked the start of that programme, which is just a first step in an innovative new kind of partnership between the Department for International Development and the London Stock Exchange.

Justine Greening said: “In the coming months, the Academy will provide further training in Tanzania and will help strengthen the capacity of local training institutions to ensure long term impact. We expect this programme to succeed and to be replicated across East Africa and beyond. This is a win-win partnership. It means the best run stock exchange in the world, our stock exchange right here in London, will be offering their expertise to a region where capital markets are in their infancy. And it also means the LSEG will have a fantastic, positive relationship with these frontier economies as they take off”.

Alexander Justham, CEO, London Stock Exchange plc said: “This is an exciting day and we are delighted to welcome so many of the leading figures from Tanzania’s capital markets. Both London Stock Exchange and DFID understand the importance of economic growth in improving people’s lives. By combining our expertise and experience in this innovative partnership, we hope to enhance capital markets across sub-Saharan Africa, so that they in turn can help companies to grow and create vital jobs.”