The London Stock Exchange (LSE) has made a very important announcement which could massively change the way business will be conducted in East Africa with a projected rush by local companies to cross list.
The British are seeking to woo Kenyan firms in the Nairobi Securities Exchange (NSE) for dual-listing in London for both debt and equity.
“London Stock Exchange Group (LSEG) is in Nairobi to build on the strong economic partnership between the UK and Kenya and discuss how best to encourage greater capital markets collaboration, in particular around equity and debt dual-listings,” the London bourse said in a statement.
According to Nikhil Rathi, the chief executive of the London Stock Exchange Plc; The London exchange expects that such collaborations would encourage parallel listings of Kenyan firms.
“With 110 African companies and 34 African bonds listed on our markets, we are uniquely placed to work in partnership with the Kenyan Government to offer an additional funding channel to support the country’s economic growth,”Rathi said.