On the second day of his visit to Kenya, Minister of State for International Trade, Greg Hands, joined a morning meeting at the Nairobi Securities Exchange to discuss how to deepen the partnership between the UK and Kenya financial sectors as a driver for growth and development.
Speaking after the meeting, Greg Hands said the visit was “invirgorating” and added that he could have spent all day there.
In a Tweet, the Conservative MP for Chelsea & Fulham posted feedback from the meeting: “More companies listing (including UK investments), more product range (bonds, futures, options) & more innovation (eg green bonds).”
He highlighted the London Stock Exchange as a “key partner”, who are no doubt supported by the UK aid funded FSD Africa which is an inclusive financial sector development programme for sub-Saharan Africa.
Created in 2012, FSD Africa is a £30 million financial sector development programme or ‘FSD’ based in Nairobi. It is funded by UK aid from the UK Government. FSD Africa aims to reduce poverty across sub-Saharan Africa by building financial markets that are efficient, robust and inclusive.
FSD Africa is a market facilitator or catalyst. It applies a combination of resources, expertise and research to address financial market failures and deliver a lasting impact. FSD Africa has a mandate to work across sub-Saharan Africa on issues that relate to both ‘financial inclusion’ and ‘finance for growth.’
FSD Africa is also a regional platform. It fosters collaboration, best practice transfer, economies of scale and coherence between development agencies, donors, financial institutions, practitioners and government entities with a role in financial market development in sub-Saharan Africa. In particular, FSD Africa provides strategic and operational support to the FSD Network.