Greg Hands discusses deepening partnerships between UK and Kenya financial sectors during visit to Nairobi Securities Exchange

Greg Hands at Nairobi Securities Exchange
Greg Hands and Nic Hailey visit the Nairobi Securities Exchange. Photo: Twitter/GregHands

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.

Greg Hands at Nairobi Securities Exchange
Greg Hands discusses deepening the partnership between the UK and Kenya financial sectors at Nairobi Securities Exchange. Photo: Twitter/HCNicHailey

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.