London Stock Exchange spies opportunity in Africa
The London Stock Exchange, fearing that Brexit could reduce its influence, is using its financial engineering subsidiaries to forge links with Africa's financial centres, especially Johannesburg.
Jersey Finance, the body which promotes the island of Jersey as an offshore financial centre, has found a new ally in its efforts to attract business from rich South Africans. Rob Hersov, who is the heir of a leading South African family, regularly takes part in the organisation's promotional events.
Along with the launch of a vehicle aimed at raising $300m to invest in African gold, businessman Rob Hersov, heir to the founding family of mining giant AngloVaal, is also pouring money into politics ahead of municipal elections in August.
Amidst the uncertainties of the rand, many of South Africa's wealthiest are fearful for their assets, and the consultancy giant Maitland has been vaunting the offshore trusts that it can register for them in various financial hubs.
Run by the Nigerians Tope Lawani and Babatunde Soyoye from London, the pan-African private equity firm Helios is putting the final touches to Helios Fairfax Partners Corp (HFP), its joint fund with Fairfax Africa owned by the Canadian billionaire Prem Watsa.
The London financial centre, which risks seeing its position in Europe weakened by Brexit, is looking to conquer new markets, notably in Africa. One of the instruments it is using to further its financial influence is financial certification institution CISI.
Business magnate John Teeling's companies have been involved in a number of ventures in countries with challenging political environments, most of them in Africa. James Finn and David Horgan have played a discreet but key role in these high-risk ventures.
The Mauritius government was quick to strike up talks with European national development agencies, who are major clients of its offshore finance services, following the EU's decision to add the country to its blacklist on money laundering.