An online trading platform displayed on a mobile device
An online trading platform displayed on a mobile device

EFG Hermes on Tuesday, January 19 announced that it was ranked first on the Nairobi Securities Exchange (NSE) by value traded for the 2020 financial year, three years after it entered the Kenyan market.

The brokerage firm noted that it had grown its market share in Kenya to 52%, pushing it ahead of its rivals. It cited a calculated expansion strategy that saw it focus on both foreign and domestic investors.

The firm saw shares worth $717 million (Ksh79.01 billion) change hands in Kenya in the period under review, driven by enhanced execution capabilities.

EFG Hermes further disclosed plans to launch a Kenyan online trading platform in 2021, targeting the high net worth and retail market segments. The platform will be an extension of its EFG Hermes One trading application.

“We have worked hard to increase domestic penetration with local accounts and delivering outstanding services primarily due to the local knowledge, strength and perseverance of the team,” noted Muathi Kilonzo, Frontier Equity Sales & Head of Equities Kenya at EFG Hermes.

online forex trading in kenya 2
An online trading platform displayed on a computer

She voiced confidence that the launch of the new application would drive growth across the country.

READ>>>>>4 Best CMA-licensed Forex Brokers in Kenya

“The launch of a Kenyan online trading platform in 2021, the first of its kind on the market, would firmly establish our positioning in the country and allow retail growth nationwide,” Kilonzo stated.

EFG Hermes, a financial services corporation focused on frontier emerging markets (FEM), notably ranked second at the Nigerian Stock Exchange by value traded for the 2020 financial year, demonstrating its increased focus on Sub-Saharan Africa.

Shares worth $483.9 million (Ksh53.3 billion) changed hands in Nigeria during the period under review.

The company hailed the positive results delivered in a difficult operating environment. Many investors, for instance, shied away from frontier markers as restrictions saw economic activity decline.

“We are exceptionally proud of the work we’ve put entering Sub-Saharan Africa, which has seen us essentially create two key financial hubs in the region in less than three years of operations.

“Our success today despite challenging circumstances is a testament to the long term view our firm has taken on the development of financial markets in Sub-Saharan Africa and the continued investment into our people, products and infrastructure on the ground,” noted  Ali Khalpey, CEO of EFG Hermes Frontier.

READ>>>>>Investors Hope New Year Will Lift NSE Stocks


Please enter your comment!
Please enter your name here