The FINANCIAL — London Stock Exchange Group on April 28 held its first ‘West African Investment Day’ at its London headquarters in Paternoster Square. The event hosted a large number of West African companies, international investors and advisers.
The event was held in conjunction with BRVM (Bourse Régionale des Valeurs Mobilières), the West African regional exchange for Benin, Burkina Faso, Guinea Bissau, Côte d’Ivoire, Mali, Niger, Senegal and Togo, and BMCE Bank International (Banque Marocaine du Commerce Extérieur), the leading international bank specialising in African investment, according to London Stock Exchange.
To mark the occasion Mrs Nialé Kaba, Minister, Economy and Finance, Côte d’Ivoire took part in a Market Opening Ceremony, together with Mr Edoh Kossi Amenounve, CEO, BRVM.
Xavier Rolet, CEO, London Stock Exchange Group said:
“We were delighted today to play host to some of West Africa’s leading companies. Helping to support and drive the region’s economy, our role in London is to work with these businesses, as a conduit for international investment in turn supporting the companies’ development. Today’s event gives us the opportunity to reflect on the increasingly strong partnership between West Africa and London, and explore how we can further strengthen our collaboration.”
Mrs Nialé Kaba, Minister in charge of Economy and Finance, Côte d’Ivoire said:
“My satisfaction is even greater because through this BRVM roadshow, investment opportunities in Africa and particularly in the WAEMU (West African Economic and Monetary Union) are identified. Our stock market today offers many advantages for the development of business activities and risk diversification for domestic and international investors. I invite international investors to take more interest in West Africa because there is still margin to be taken. This partnership between BRVM and foreign stock exchanges markets is welcome and must be improved.”
Mr Edoh Kossi Amenounve, CEO, BRVM, said:
“Along with Johannesburg, Lagos, Casablanca and Nairobi, our regional exchange embodies this new frontier of finance that offers safe investments with high returns.”
The West African Investment Day is part of a series of events London Stock Exchange runs to facilitate dialogue between London-based and global investors with international companies.
There are a number of West African companies that have existing relationships with LSEG.115 Sub-Saharan Africa-focussed companies are also quoted on London Stock Exchange markets, comprising:
26 companies on the Main Market
3 GDR listings on the Main Market
2 GDR listings on the Professional Securities Market (PSM)
84 companies quoted on AIM, the growth market