Dar es Salaam Stock Exchange chief opens trading on the London Stock Exchange

Moremi Marwa of DSE and UK Secretary of State for International Development open trading on the London Stock Exchange. Credit: London Stock Exchange
Moremi Marwa of DSE and UK Secretary of State for International Development open trading on the London Stock Exchange. Credit: London Stock Exchange

The CEO of Tanzania’s Dar es Salaam Stock Exchange (www.dse.co.tz) Moremi Marwa opened trading on the London Stock Exchange (www.lseg.com) on Monday (27 Jan) alongside the UK Secretary of State for International Development, the Rt Hon. Justine Greening MP. The London Stock Exchange Group also signed a Memorandum of Understanding with Britain’s Department for International Development (DFID) to work on capital markets development projects across Africa south of the Sahara, using the expertise of the London Stock Exchange Group Academy.

According to a press release from LSE: “LSEG Academy will work with up to 50 Tanzanian market operators, regulators and professionals with the aim of helping to fast track the development of a long term, sustainable equity capital market.” The opening ceremony event was hosted by Alexander Justham, CEO of London Stock Exchange plc, and launches a year-long training and professional development programme.

LSEG and DFID are to work together to help build the pool of skilled professionals in government and the private sector required to continue growing capital markets in sub-Saharan Africa. These initiatives will be facilitated in co-ordination with DFID’s country programmes and financial-sector relationships.

LSEG Academy has good track record in delivering bespoke training programmes for emerging and frontier-market institutions and participants, including the regulator of the Angolan capital market, the Kuwait Stock Exchange, the Mongolian Stock Exchange, the Saudi Capital Markets Authority and Romanian capital markets institutions. LSEG’s technology division, MillenniumIT, has worked with 13 African exchanges and infrastructure providers.

LSE’s Justham said: “This is an exciting day and we are delighted to welcome so many of the leading figures from Tanzania’s capital markets. Both London Stock Exchange and DFID understand the importance of economic growth in improving people’s lives. By combining our expertise and experience in this innovative partnership, we hope to enhance capital markets across sub-Saharan Africa, so that they in turn can help companies to grow and create vital jobs.”

London Stock Exchange traces its history back to 1801 but now operates international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe’s leading fixed-income market; and the pan-European multilateral trading facility (MTF) Turquoise. It offers “unrivalled access to Europe’s capital markets”. It also operates post-trade and risk management services including CC&G, a central counterparty clearing house (CCP) headquartered in Rome, and Monte Titoli, the significant European settlement business, and it is majority owner of LCH.Clearnet, a leading multi-asset global CCP.

The LSE offers real-time and reference data products, including: Sedol, UnaVista, Proquote and RNS, as well as access to over 200,000 international equity, bond and alternative asset class indices, through LSEG’s world-leading index provider, FTSE. It is a leading developer of high-performance trading platforms and capital markets software. The LSE Group MillenniumIT technology for trading, surveillance and post-trade technology is used in the group’s own markets and over 30 other organisations and exchanges around the world.

The LSE Group is headquartered in London and has operations in Italy, France, North America and Sri Lanka. It employs some 2,800 people.


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