Sunbird Bioenergy Africa is well positioned to deliver on our ambition for an initial public offerings (IPO) on the London Stock Exchange and raise capital to expand our renewable energy projects across Africa.
Today, at the UK Africa Investment Summit, Prime Minister Boris Johnson delivered a keynote address encouraging UK money managers to look beyond Europe to Africa for post-brexit investment opportunities. In many African countries, with our common language, legal systems and Commonwealth linkages, the UK has an advantage for securing new business.
David Schwimmer, CEO of the London Stock Exchange explained that they already host 22 listed African companies, and are the logical stock exchange for fast growing African companies to IPO, particularly from the financial services, energy, technology and mining sectors. The London Stock Exchange’s Africa Advisory Group (LAAG) in attracting a bigger share of the USD 5 trillion global Exchange Traded Fund Assets under management into African capital markets. The LAAG is an advocacy group that serves as a podium to boost the development of the African capital markets, enhance trade and flow of capital between the UK and Africa.
As a pan-African renewable energy company, Sunbird Bioenergy is expected to be an attractive IPO proposition for UK money managers. The business services a growing market of domestic and export customers and earns an income from the sales of bioethanol (“biofuel”), renewable electricity and food and beverage products including extra neutral alcohol (“ENA”). The company has long-term growth prospects as African governments implement their commitments from 2015 United Nations Climate Change Conference (“COP21” or “Paris Agreement”), and is forecast to pay dividends.
As an indicator of the importance the British Government attach to Africa as a destination for UK money managers, presentations were given by other key ministers including: Anne-Marie Trevelyan (Secretary of State for International Development), Alok Sharma (Secretary of State for Business, Energy and Industrial Strategy) and Prince Harry. They noted:
Africa is home to 8 of the 15 worlds fastest growing economies
Countries within the Africa Free Trade Area will have a population of 1.2 billion and a total GDP of £2 trillion
Africa’s GDP set to grow to 2.5 trillion by 2025
Africa has the youngest population in the world with more than 400 million people aged between 15 and 35 (”youth”)
Consumer spending on the continent is expected to reach £1.6 trillion by 2025
Following the Investment Summit, the President of the Africa Development Bank was invited to open the London Stock exchange. “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,” Akinwumi Adesina said.
Africa Development Bank, President Adesina, Opens the London Stock Exchange.
Note: The British PM is hosted African leaders and senior government representatives along with British and African businesses during the UK-Africa Investment Summit, aimed at strengthening the UK economic partnership with African nations, attendees included: South Africa’s Minister of International Relations and Cooperation Naledi Mandisa Pandor, Ethiopia’s Prime Minister Abiy Ahmend, Angola’s President Joao Lourenco, Algeria’s President Abdelmadjid Tebboune, World Bank President David Malpass, UN executive secretary of Economic Commission for Africa Vera Songwe and IMF Africa Director Abebe Aemro Selassie, Mauritius Prime Minister Pravind Jugnauth, Mauritania’s President Mohamed Ould Ghazouani, Malawi’s President Peter Mutharika, Britain’s Business Secretary Andrea Leadsom, Kenya’s President Uhuru Kenyatta, Guinea’s President Alpha Conde, Britain’s International Trade Secretary Liz Truss, Ghana’s President Nana Akufo-Addo, Democratic Republic of Congo’s President Felix Tshisekedi and Tunisia’s President Kais Saied, (Bottom L-R) Britain’s International Development Secretary Alok Sharma, Uganda’s President Yoweri Museveni, Sierra Leone’s President Julius Maada Bio, Senegal’s President Macky Sall, Egypt’s President Abdel Fattah al-Sisi, Britain’s Prime Minister Boris Johnson, Rwanda’s President Paul Kagame, Nigeria’s President Muhammadu Buhari, Mozambique’s President Filipe Nyusi, Morocco’s Prime Minister Saad-Eddine El Othmani and Ivory Coast’s President Alassane Ouattara.