AfDB Opens Africa Trading on London Stock Exchange

AfDB Opens Africa Trading on London Stock Exchange

African Development Bank now formal member of London Stock Exchange Africa Advisory
Group which serves as a platform to enhance the development of African capital
markets, and boost trade and investment flows between the UK and Africa.

Don Robert, Chairman of London Stock Exchange Group,
welcomed the president of the African Development Bank to open markets for
trading at London Stock Exchange on Wednesday 22 January.

The reception in London followed the African Development
Bank’s Africa Investment Forum, held in November last year. The innovative
market-place for accelerating investment into the continent is playing a
valuable role in convening investors and corporates and removing the
bottlenecks to investments and enabling a free flow of long-term capital.

The 2019 edition of the Forum, held in Johannesburg, South
Africa, saw investor interest secured in deals valued at $40.1 billion.
Mozambique featured strongly in the 2019 edition, with state oil and fuel company
Empresa Nacional de Hidrocarbonetos (ENH), tabling the largest deal worth $24.6
billion.

Wrapping up a three-day visit to the UK, during which he
attended the first UK-Africa Investment Summit, Bank President Akinwumi Adesina
lauded the prospects of continued collaboration with London Stock Exchange
Group.

Don Robert, Chairman, LSEG, said: “Deep and sustainable
capital markets are key to supporting African companies and infrastructure. We
look forward to continuing to play our part in the development of these markets
and attracting investment to Africa. As such, we’re delighted to continue our
collaboration with the African Development Bank, which has now formally become
a member of LSEG’s Africa Advisory Group.”

“My ringing of the bell here today marks the beginning of a
new exciting, strategic, and impactful engagement between the African
Development Bank and London Stock Exchange to jointly expand wealth creation in
Africa and the UK,” Adesina said.

Looking ahead, the Bank chief said it would be working with
LSEG’s Africa Advisory Group (LAAG) to attract a bigger share of the $5
trillion global Exchange Traded Fund Assets under management into African
capital markets.

The Bank on Tuesday became a formal member of LAAG, an
advocacy group which serves as a platform to enhance the development of African
capital markets, boost trade and investment flows between the UK and Africa.

Adesina said the synthetic synchronization of £1 billion
issued by the Bank had attracted global institutional investors to look at
infrastructure in Africa. “We are excited about the recent listing of Kenya’s
Acorn Holdings, the country’s first green bond in January 2020,” he added, then
also touched on the Africa Investment Forum.

For Chinelo Anohu of the Africa Investment Forum, the visit
to London Stock Exchange forms part of the Bank’s efforts to expand and deepen
its relationships with foreign investors.

“With its unmatched growth and u