Kenyan Woman Makes History In Company Listed On London Stock Exchange

Businesswoman Jackline Muchai on Thursday, November 9 became one of the first Kenyan women to be appointed to the Board of a London Stock Exchange company.

Neo Energy Metals Plc, the near-term, low-cost uranium developer, became the "first pure exploration play" for uranium to list on the London Stock Exchange's main board.

The company revealed in a notice that Muchai was appointed as a Non-Executive Director of its board.

Inside the London Stock Exchange building in the United Kingdom (UK). /LINKEDIN

"It is a profound honour to share the exciting news that our esteemed CEO and Founder, Jackline Muchai, has assumed a pivotal role, Non-Executive Director on the Board of Neo Energy Metals as it officially lists on the prestigious London Stock Exchange today," stated Gathoni Muchai Investments Limited, the company in which she founded and currently runs as its Chief Executive Officer (CEO).

Neo Energy Metals is one of the most advanced, high-grade uranium companies capable of near-term production. The Only Primary Listed Company in London offers investors direct exposure to the uranium sector. 

The Nairobi, Kenya-based company has its initial focus on Henkries, an advanced, low-cost uranium project in the Northern Cape Province of South Africa with a clear pathway to near-term production.

"This exciting project has a current estimated mineral resource of 4.7 million pounds (Ksh870.3 million) of uranium but is wide open for potential new uranium discoveries given less than 10% of prospective ground has been fully tested.

"The company’s next steps include increasing the project’s Mineral Resources and updating the initial, positive feasibility study ahead of making a development decision within two years," stated the London Stock Exchange in its announcement.

Jason Brewer, who is the company's non-executive chairman, hailed the listing as a very exciting milestone for Neo Energy, in both its development as well as its future growth plans as it focuses on building a position as a key supplier of uranium to support increasing world demand, which remains significant due to constrained supply.

"The Listing will give shareholders immediate exposure to the uranium sector and access to participate in the growth and future potential of Neo Energy.

“We are honoured to join the prestigious ranks of public companies on the London Stock Exchange and are confident that given the high volume of workstreams already underway and planned, Neo Energy will deliver value to all stakeholders," Brewer remarked.

The London Stock Exchange (LSE) is based in the City of London in England and has a total market value of all companies trading on it standing at Ksh482.6 trillion as of August 2023.

The LSE was the most-valued stock exchange in Europe from 2003 when records began until Autumn 2022, when the Paris exchange overtook it. According to the 2020 Office for National Statistics report, approximately 12% of UK-resident individuals reported having investments in stocks and shares.

The main stock exchange in the UK is the most international of all stock exchanges with thousands of companies from more than 60 countries, and it is the premier source of equity-market liquidity, benchmark prices, and market data in Europe. 

Furthermore, it provides cost-efficient access to some of the world’s deepest and most liquid pools of capital. It is home to a wide range of companies and provides electronic equities trading for listed companies.

Muchai describes herself as a self-driven and ambitious businesswoman with deep knowledge and understanding of the African markets and actively involved in transactions throughout the region.

Her company, Gathoni Muchai Investments, also based in Nairobi, holds major interests in mining projects throughout East and Southern Africa and is also actively seeking to increase its investments in Kenya's property development and retail business sector through strategic investments and partnerships.

She also serves as the regional director of Mayflower Capital Investments Limited and a director at UK-incorporated Mayflower Children's Foundation which aims to improve young children's education, health and well-being in Africa through education, nutrition and recreational programs

Description of Jackline Muchai as the founder and CEO of Gathoni Muchai Investments. /GATHONI MUCHAI INVESTMENTS