London Stock Exchange Group strengthens partnership with Kenya

  • LSEG delegation visits Nairobi to discuss further capital markets  collaboration
  • Follows recent successful African Eurobond issuances in London including $2bn Kenyan Eurobond listing
  • Reinforces London’s status as a leading global financial centre and a natural funding partner to Kenya

 London Stock Exchange Group (LSEG) is in Nairobi to build on the strong economic partnership between the UK and Kenya and discuss how best to encourage greater capital markets collaboration, in particular around equity & debt dual-listings.

Nikhil Rathi, CEO, London Stock Exchange plc, Suneel Bakhshi, Chairman International Advisory Groups London Stock Exchange Group, and Nic Hailey, British High Commissioner to Kenya will meet with Kenyan Government officials and the capital markets community. They will host a capital markets roundtable, ‘Bridging the Gap Between London & Nairobi.’

LSEG will also be hosting its fourth meeting of its London Africa Advisory Group (LAAG). LAAG 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 markets infrastructure.

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

  • In February 2018, LSEG welcomed Kenyan Cabinet Secretary of the National Treasury, Henry K. Rotich to London to celebrate the successful issuance of Kenya’s $2 billion Eurobond, which was over 7 times subscribed
  • In 2018 alone, $8.5 billion has been raised on the UK debt capital markets by the Governments of Kenya, Nigeria and Egypt
  • LSEG recently signed an MoU with the Kenyan Ministry of Energy to dual list its National Oil Company in both Nairobi & London and develop a direct connection between the two financial markets
  • FTSE Russell, LSEG’s global indexing business, is a partner to the Nairobi Securities Exchange on benchmark indexes for the local market
  • LSEG is also partner to the Nairobi Securities Exchange on its technology platforms
  • There are 50 Kenyan companies included in LSEG’s ‘Companies to Inspire Africa’ report – ranging from Fintech to Agriculture, showcasing the strength and depth  of the domestic SME market. Nominations for Companies to Inspire Africa 2018 are now open, please use the following link to register your nominations
  • 110 African companies and 34 African bonds are listed on London Stock Exchange

Nikhil Rathi, CEO, London Stock Exchange plc:  

“London Stock Exchange Group is committed to boosting access to growth capital for companies from across the world. With 110 African companies and 34 African bonds listed on our markets, we are uniquely placed to work in partnership with the Kenyan Government to offer an additional funding channel to support the country’s economic growth. In 2018 so far, a combined total of $8.5 billion in debt capital has been raised by the Government’s of Kenya, Egypt and Nigeria on our markets. This cements London Stock Exchange’s status a leading global listing venue for African debt finance and we look forward to exploring more opportunities for greater collaboration across our financial markets.”

Suneel Bakhshi, Chairman, International Advisory Groups, ‎London Stock Exchange Group:

“The decision to hold our fourth Africa Advisory Group meeting in Nairobi today is a reflection of our confidence in Kenya’s clear intention to build its capital markets based institutions further. Done well, this will enhance the resiliency and liquidity of the Kenyan markets and we remain committed to being long term partners for Kenyan market infrastructure‎."

London Africa Advisory Group Members:

Corporates:

  • Suneel Bakhshi, Chairman, International Advisory Groups, London Stock Exchange Group
  • Naguib Sawiris, CEO, Orascom – Major Egyptian conglomerate
  • ABC Orjiako, Chairman, Seplat – Nigerian oil major company 
  • 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, Former Director General, Nigeria Pension Commission
  • Fatima Haram Acyl, Former Commissioner, African Union
  • Oscar Onyema, President, African Securities Exchanges Association
  • Hassan Abdalla, CEO and Vice Chairman, Arab African International Bank
  • Sir Roger Gifford, Country Head for the European Bank SEB, former Lord Mayor of London, and Co-Chairman of the UK Government’s Nigeria Emerging Capital Markets Task Force
  • Said Ibrahimi, CEO, Casablanca Finance City Authority

Investors:

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

 

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