EGM Securities, Kenya’s premier online non-dealing forex broker by market share, has announced a corporate partnership with Sterling Capital, a leading investment bank in Kenya for equities and fixed income trading in the Nairobi Securities Exchange (NSE).
The partnership will provide global trading opportunities for Kenyans to trade top-performing global stocks, as well as other asset classes such as indices and commodities like gold and oil. The global economic recovery is driving oil demand which is expected to gain momentum. OPEC forecasts oil consumption to increase by roughly 5% in the second half of 2021 as the world emerges from the pandemic slump.
Positive global market sentiment driven by the recent all-time highs of the S&P500, NASDAQ, and other global stock indices has given impetus to increased investor appetite and demand from Kenyans seeking global investment opportunities. In recent months, the global technology sector has shown a strong growth trajectory with stocks such as Shopify, Intel, Google, Alphabet, and Microsoft, delivering consistently high returns. The global economic recovery seen this year has also heightened demand for aviation, hospitality, tourism, and energy, and these stocks are starting to bounce back from the pandemic.
Samwel Kiraka, CEO of EGM Securities, a subsidiary of the global Equiti Group, said: “The global markets provide Kenyans with great trading opportunities for investment returns. We are very pleased to partner with Sterling Capital to provide global trading opportunities to Kenyans.
“The appointment of Sterling Capital further cements EGM Securities position as the premier provider of multi-asset products in Kenya, and across the African continent, and importantly, to give our people exposure to the global stock markets.”
David Ngaine, CEO of Sterling Capital, said: “We are excited by the prospects of our new partnership with EGM Securities to expand the range of investment options for our clients. Sterling Capital will benefit significantly from EGM Securities’ global experience as a multi-asset online trading broker.
“This partnership brings together two premium financial services companies that are leaders in their respective areas of expertise.”
EGM Securities was the first non-dealing online forex broker to be licensed by the Capital Markets Authority and the first to offer derivative contracts on the Nairobi Securities Exchange Derivatives Market. Recently, the company won the Best Forex Broker in Kenya 2021 Award by the World Economic Magazine. Sterling Capital is a leading investment bank in Kenya and has been formally recognized as the best investment bank in Kenya by the Global Banking and Finance Magazine for the past two consecutive years.”
Brian Myers, CEO of Equiti’s operations in Africa added: “Improving financial literacy rates and opening access to global markets for all Kenyans is at the core of what we do. This partnership is married to this goal and we look forward to growing the relationship in the years to come.”