London Stock Exchange Group welcomes President of Madagascar to open trading

London Stock Exchange Group welcomes President of Madagascar to open trading

  • President Rajaonarimampianina takes part in iconic London market open ceremony
  • LSEG and Madagascar look to explore Capital Markets collaboration opportunities
  • Strengthens economic relationship between UK and Madagascar on 200th anniversary of start of UK and Madagascar diplomatic & commercial ties 
  • Reinforces London’s role as a leading global financial centre

London Stock Exchange Group (LSEG) today welcomes the President of Madagascar, Hery Martial Rajaonarimampianina Rakotoarimanana, to open London trading and discuss exploring collaboration opportunities between LSEG and Madagascar across the capital markets business chain. Rt Hon Andrew Mitchell MP, Member of Parliament for the Royal Town of Sutton Coldfield and H.E. Timothy Smart, British Ambassador to the Republic Madagascar joined President Rajaonarimampianina to open the market.

LSEG has long history of supporting the development of emerging economy capital markets, facilitating access to international capital for emerging market companies and developing new products and investor education and awareness programmes.

Hery Martial Rajaonarimampianina Rakotoarimanana, President of Madagascar: 
“Capital markets play a vital role in a country’s economic development, something that I have long understood and promoted during my previous tenure as Minister of Finance. Today’s visit to London Stock Exchange is the natural next step in the evolution of Madagascar’s financial markets. We look forward to working with London Stock Exchange Group as it supports us in our ambitions to develop Madagascar’s capital markets and prepare local companies for international investment.

“The opening of our embassy in London this week reflects Madagascar’s commitment to working with the international investment community in London to position Madagascar on the global map.”

Liz Stevenson, Global Head of Government Relations and Regulatory Strategy: 
“Welcoming President Rajaonarimampianina to London Stock Exchange today heralds an exciting new chapter for Madagascar’s capital markets. As the world’s most international exchange, London Stock Exchange is a strong partner to Madagascar and we are delighted to support the country in its economic expansion plans.

“Today reinforces London’s position as the leading market place for international business and reflects LSEG’s commitment to an open access approach, supporting Madagascar, as it delivers on its ambition to develop the country’s capital markets.”

H.E. Timothy Smart, British Ambassador to the Republic Madagascar: 
“The President's second visit to the UK in under two years, and his historic reopening of their Embassy this week, shows clearly the priority He and His government attach to bolstering governmental, financial and investment ties with the UK. Similarly, this relationship matters to the UK and as we celebrate 200 years of warm and close bilateral relations it is great to see our financial links strengthen as London Stock Exchange supports Madagascar's desire to create its own capital market.”

In the past 24 months LSEG has worked with a number of African countries, supporting them in a variety of expansion plans across the full exchange business chain, including listing, trading, technology and clearing, helping to position these capital markets as regional economic hubs.

  • In April 2017, LSEG and the Nigerian Stock Exchange renewed their capital markets agreement, originally signed in 2014 to support African companies seeking dual listings in London and LagosSeplat was the first Nigerian company to simultaneously dual list equity shares in London and Nigeria
  • In March 2017, LSEG launched its inaugural ‘Companies to Inspire Africa’ report, a landmark publication identifying hundreds of the fastest-growing and most dynamic private businesses across Africa and 9 Madagascan companies were included
  • 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 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
  • There are currently 10 African sovereign bonds listed in London, from Egypt, Gabon, Ghana, Namibia, Nigeria and Zambia
  • There are 106 African companies listed or trading on London Stock Exchange – more than on any other international stock exchange
  • LSEG market infrastructure technology is deployed in more 12 African markets, including Nairobi Securities Exchange, Botswana Stock Exchange, Casablanca Stock Exchange and Johannesburg Stock Exchange
  • LSEG also has a strong track record in supporting oil and gas companies. 160 oil and gas companies are listed in London, with a combined market capitalisation of over $1 trillion.
  • Since 1985, over $138 billion has been raised by oil and gas companies in London, and the companies listed include six of the ten largest listed oil and gas companies in the world.