Petroleum Africa
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Sunday, November 12, 2017
ELITE, the LSE’s international business support and capital raising program, signed an agreement with Casablanca Stock Exchange (CSE) and Bourse Régionale des ValeursMobilières (BRVM) to support the launch of ELITE across the West African Economic and Monetary Union (UEMOA). Members of UEMOA are Benin, Burkina Faso, Cote d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo.
As part of the agreement, Casablanca Stock Exchange, supported by ELITE, will share its knowledge and expertise of the ELITE program with BRVM representatives, guiding them on how best to implement ELITE and promote the program and brand locally. Companies from Cote d’Ivoire will be the first to join ELITE in November, with a view to eventually becoming part of the full international ELITE community of over 650 companies from across 25 countries.
The signing ceremony was held in Abidjan, Cote d’Ivoire, and was presided by AmadouGonCoulibaly, Prime Minister of Cote d’Ivoire. The agreement was signed by Thomas Tyler, Global Head of Sales, ELITE; Karim Hajji, CEO, CSE; and Kossi Felix EdohAmenouve, Director General, BRVM.
Currently the LSE has 104 African companies either listed or trading on the exchange, representing a total market capitalization of over $165 billion. Over the last 15 years these companies have raised more than $17 billion on London’s markets. Seplat, an indigenous oil and gas firm, was the first Nigerian company to simultaneously dual list equity shares in London and Nigeria in April 2014.
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