ELITE launches across West Africa

  • ELITE, CSE and BRVM sign collaboration agreement to launch business support & capital raising programme across West Africa
  • Signing ceremony presided by Amadou Gon Coulibaly, Prime Minister of Cote d'Ivoire
  • Demonstrates LSEG’s commitment to strengthening ties with West Africa’s capital market

ELITE, London Stock Exchange Group’s international business support and capital raising programme, today announces that it has signed an agreement with Casablanca Stock Exchange (CSE) and Bourse Régionale des Valeurs Mobilières (BRVM) to support the launch of ELITE across the West African Economic and Monetary Union (UEMOA). Members of UEMOA are Benin, Burkina Faso, Cote d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo.

The signing ceremony was held today in Abidjan, Cote d'Ivoire, and was presided by Amadou Gon Coulibaly, Prime Minister of Cote d'Ivoire. The agreement was signed by Thomas Tyler, Global Head of Sales, ELITE; Karim Hajji, CEO, CSE; and Kossi Felix Edoh Amenouve, Director General, BRVM.

As part of the agreement, Casablanca Stock Exchange, supported by ELITE, will share its knowledge and expertise of the ELITE programme with BRVM representatives, guiding them on how best to implement ELITE and promote the programme and brand locally. Companies from Cote d'Ivoire will be the first to join ELITE in November, with a view to eventually becoming part of the full international ELITE community of over 650 companies from across 25 countries.

Luca Peyrano, CEO, ELITE:
“Today’s announcement highlights ELITE’s enduring commitment to supporting fast growing businesses across the world, as well as Casablanca Stock Exchange’s and BRVM’s dedication to backing West Africa’s most dynamic firms. These companies have a unique capacity to innovate, create new jobs and ultimately drive economic prosperity. I’m delighted that from today businesses from Cote d'Ivoire will have the opportunity to be part of a tailored ELITE BRVM network and have access to vital sources of growth funding.”

Karim Hajji, CEO of Casablanca Stock Exchange, said:
“We are particularly pleased to bring our knowledge and expertise to the development of African companies across UEMOA. Our wish is to contribute effectively to the creation of a strong continent, with strong and lasting economies which occupy a place in the world economy.” 

Kossi Felix Edoh Amenouve, Director General, BRVM:
“Launching ELITE in Cote d'Ivoire today is a milestone for our country, the region and the continent as a whole. With our partners, CSE and ELITE, we are contributing to the long term growth of our economy and giving some of Africa’s fastest growing companies the opportunity to shine on the world stage.”

London Stock Exchange Group has a long history of supporting the development of African capital markets and investment in African companies.

  • There are 104 African companies listed or trading on London Stock Exchange – more than on any other international stock exchange
  • These companies have a total market capitalization of over $165 billion, and in the last 15 years have raised more than $17 billion on London’s markets
  • There are currently 13 African sovereign bonds listed in London, from Egypt, Gabon, Namibia, Nigeria and Zambia
  • In June 2017, Nigeria raised $300 million through its first Diaspora Bond on London Stock Exchange. The retail bond was aimed at Nigeria’s global expatriate community seeking to invest in the country’s development. It was the first bond of its kind from sub-Saharan Africa.
  • In March 2017, London Stock Exchange Group launched ‘Companies to Inspire Africa,’ a report identifying, for the first time, Africa’s fastest growing, private companies
  • In March 2017, London Stock Exchange signed a Memorandum of Understanding with UK government backed GuarantCo to encourage the development of frontier and emerging debt capital markets and to facilitate the listing of bonds on London Stock Exchange’s markets
  • Seplat was the first Nigerian company to simultaneously dual list equity shares in London and Nigeria in April 2014
  • In March 2016, LSEG established an Africa Advisory Group, bringing together 12 distinguished business leaders, policymakers and investors from across Africa, to discuss the challenges and opportunities presented by the development of the continent’s capital markets
  • In November 2014, London Stock Exchange Group and The Nigerian Stock Exchange signed a capital markets agreement to support African companies seeking dual listings in London and Lagos. The agreement followed the implementation earlier in 2014 of a unique new cross-border settlement process between the UK and Nigeria
  • 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
  • LSEG market infrastructure technology is deployed in more 12 African markets, including Botswana Stock Exchange, Casablanca Stock Exchange and Johannesburg Stock Exchange


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For further information:

Media 

Alexandra Ritterman +44 (0)20 7797 1222
newsroom@lseg.com


Notes to editors:
About ELITE
ELITE is a full-service programme designed to help the most ambitious companies prepare and structure for the next stage of growth through the access to long term financing opportunities. It is a unique cross- border programme based on an exclusive training and tutorship model, supported by access to the business and financial community. Its aim is to prepare companies for their next stage of growth and investment.

For further information on the programme, companies and the full list of partners, please go to: www.elite-growth.com    

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 $15 trillion benchmarked to its indexes. The Group also provides customers with an extensive range of data services, research and analytics through Mergent, SEDOL, UnaVista, XTF 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, a multi-asset global CCP operator, LSEG owns CC&G, the Italian clearing house and Monte Titoli, a leading European custody and settlement business.

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 4,000 people.

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