"For me, ringing the bell here today marks the beginning of an exciting new commitment of great strategic value and impact" Akinwumi Adesina, President of the African Development Bank.

The Chairman of the London Stock Exchange Group, Don Robert, has invited the President of the African Development Bank, Akinwumi Adesina, to open the trading session on Thursday, January 23 on the London Stock Exchange.

The ceremony took place less than three months after the Africa Investment Forum (AIF) organized by the African Development Bank. The AIF is an innovative exchange platform designed to accelerate the pace of investment in Africa. It plays an extremely useful role in bringing together investors and businesses, freeing up investment and promoting the free movement of capital in the long term.

 
The 2019 edition of the Forum, held from 11 to 13 November in Johannesburg, South Africa, generated transactions valued at some US$40 billion. Mozambique stood out, with the state-owned oil and fuel company Empresa Nacional de Hidrocarbonetos (ENH) recording the largest transaction, worth $24.6 billion.

Following a three-day visit to the UK, during which he attended the first UK-Africa Investment Summit, President Adesina welcomed the prospects for further collaboration with the London Stock Exchange Group (LSEG). 

"Strong and sustainable financial markets are essential to support African businesses and infrastructure," said Don Robert. We look forward to continuing to play our part in the development of these markets and attracting investment to Africa. As such, we are delighted to continue our collaboration with the African Development Bank, which is now officially a member of the LSEG African Advisory Group. »

 
"For me, ringing the bell here today marks the beginning of an exciting new engagement of great strategic value and impact between the African Development Bank and the London Stock Exchange to jointly develop wealth creation in Africa and the UK," said President Adesina.

Akinwumi Adesina said he would work in the future with LAAG, LSEG's African Advisory Group, to attract a larger share of international assets under management on the stock exchange, worth $5 trillion, to African markets. The LAAG, of which the Bank became an official member on Tuesday, is an advocacy group serving as an intermediary to develop African capital markets, boost trade and investment flows between the UK and Africa.

The Bank President noted that the Bank's £1 billion synthetic securitisation operation has prompted international institutional investors to examine infrastructure in Africa. "We welcome the recent listing of Acorn Holdings in Kenya, the country's first green bond issued in January 2020," he added.

Chinelo Anohu, Director of the Africa Investment Forum, said the visit to the London Stock Exchange comes against the backdrop of the Bank's efforts to expand and strengthen its relationships with foreign investors. the next decade will undoubtedly be Africa's decade. Today's ceremony marks the beginning of a new era for Africa, a continent that has embarked on the irreversible path of sustainable economic transformation," she concluded.

 
"The City of London is the financial centre of choice for Africa! " said Matthew Rycroft, Permanent Secretary at the Department for International Development. "We are delighted with our partnership with the Bank and at the (UK-Africa Investment) Summit we made some extremely important announcements," he confirmed. We have announced that £6.5 billion in trade agreements are in place and many more are in the pipeline. But it's not just about money: it's also about ensuring that our investments are sustainable and that they promote real and sustainable growth in African economies. »

Some 112 African companies are listed on the London Stock Exchange, with a total market capitalisation of £125 billion. In 2019, two African telecom companies raised £800 million through IPOs in London.

Several distinguished guests attended the ceremony, including Nikhil Rathi, CEO of London Stock Exchange PLC, and Suneel Bakhshi, Chair of LSEG's International Advisory Groups.