In addition the London Stock Exchange Group (LSEG) will discuss exploring collaboration opportunities between LSEG and Madagascar across the capital markets business chain.
Rt Hon Andrew Mitchell MP, Member of Parliament for the Royal Town of Sutton Coldfield and H.E. Timothy Smart, British Ambassador to the Republic Madagascar joined President Rajaonarimampianina to open the market.
The London Stock Exchange Group has long history of supporting the development of emerging economy capital markets, facilitating access to international capital for emerging market companies and developing new products and investor education and awareness programmes.
“Capital markets play a vital role in a country’s economic development, something that I have long understood and promoted during my previous tenure as Minister of Finance,” states President of Madagascar, Hery Martial Rajaonarimampianina Rakotoarimanana.
“This visit to the London Stock Exchange is the natural next step in the evolution of Madagascar’s financial markets.
“We look forward to working with London Stock Exchange Group as it supports us in our ambitions to develop Madagascar’s capital markets and prepare local companies for international investment.
“The opening of our embassy in London this week reflects Madagascar’s commitment to working with the international investment community in London to position Madagascar on the global map.”
“Welcoming President Rajaonarimampianina to London Stock Exchange today heralds an exciting new chapter for Madagascar’s capital markets,” says global head of government relations and regulatory strategy, Liz Stevenson.
“As the world’s most international exchange, the London Stock Exchange is a strong partner to Madagascar and we are delighted to support the country in its economic expansion plans.
“The president's second visit to the UK in under two years, and his historic reopening of their Embassy this week, shows clearly the priority he and his government attach to bolstering governmental, financial and investment ties with the UK,” states the British Ambassador to the Republic Madagascar, H.E. Timothy Smart.
“Similarly, this relationship matters to the UK and as we celebrate 200 years of warm and close bilateral relations it is great to see our financial links strengthen as London Stock Exchange supports Madagascar's desire to create its own capital market.”
In the past 24 months the London Stock Exchange Group has worked with a number of African countries, supporting them in a variety of expansion plans across the full exchange business chain, including listing, trading, technology and clearing, helping to position these capital markets as regional economic hubs.
Feature image credit: London Stock Exchange