London Stock Exchange Plans To Empower 1000 Companies In Africa | Independent Newspapers Limited
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London Stock Exchange Plans To Empower 1000 Companies In Africa

london stock exchange
Posted: Aug 4, 2016 at 12:14 pm   /   by   /   comments (0)

Bamidele Ogunwusi

LONDON – In an effort to increase access to finance for businesses and encourage investments that would have more transformative effect on African economy, the London Stock Exchange Group (LSEG) said it plans to identified and inspire 1000 growing companies across the length and breadth of the continent.

Senior Manager, Equity Primary Market, LSEG, Anne Moulier who disclosed this to select Nigerian financial Journalists on courtesy visit to the Exchange yesterday in London said this became necessary to help the growth of SMEs in the continent.

She explained that the Group intends to replicate in Africa its current initiatives tagged 1000 companies to inspire Britain and 1000 companies to inspire Europe respectively.

Moulier said the similar initiative which is hoped to begin in Africa next year would be a landmark report identifying the continent’s most exciting and dynamic small and medium sized enterprises (SMEs).

She said the selection criteria for the 1000 of the fastest growing SMEs will require companies to have shown not just growing revenue over the past four years, but also to have outperformed their sector peers.

Moulier said the Exchange have the fund to deploy to companies to enable it grow, but how to locate the viable ones led credence the initiatives.

“There is about $2 trillion for international equity of which about 40 per cent is in UK. We have a pull of money that needed to be deployed,” she said.

Moulier said the LSEG decided to be collaborating with the emerging markets in order to achieve global visibility.

“We are working with Nigeria and Morocco Stock Exchanges in various levels. In Morocco, we just signed an agreement tagged ‘Elite Morocco for Private Companies’ to help them grow their business. Our collaboration with Nigeria which is very important to us and has been on market level,” she said.

Head of India, Africa and Middle East for Primary Markets-Equity and Debt, Jasmine Arora said LSEG has about 2,300 listed companies with aggregate market value of $7 trillion.

He listed benefits of listing on LSEG to include access to deepest pool of international capital in the world, proven level of sustained liquidity, quality of advisory community and sell side research coverage, choice of markets to cater for all sizes and stages of company, among other.