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Kenya's EFG Hermes aims to attract more retail investors with new trading platform

posted onJuly 7, 2021
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EFG Hermes Kenya has launched a new online equity-trading platform, EFG Hermes One, which will see the leading brokerage firm in Kenya offer retail investors seamless and convenient stock trading on the Nairobi Securities Exchange (NSE). 

“With capital market trends demonstrating ever-increasing interest from retail investors across the world, we aim to increase access and awareness  to capital markets to foster better equity trading across sub-Saharan Africa. Our expansion into the retail space is part of our commitment to growing our services in the African continent,” said Ali Khalpey, EFG Hermes Frontier CEO.

“We hope to replicate the success we have witnessed with the EFG Hermes One application across other markets in which the group operates in order to offer our clients in Kenya a comprehensive range of services and further solidify our leadership in the market.” 

EFG Hermes Kenya seeks to capitalize on Kenya’s high mobile phone penetration rate by leveraging digital channels to deliver efficient, convenient, and comprehensive services able to meet investors’ needs. 

“The launch of the application comes on the heels of the NSE’s introduction of day trading for retail investors, allowing them to buy and sell stocks as well as settle trades in a single day. The move is an integral part of our desire to open up the market to further retail participation, see more equities listed on the NSE and grow the value of our equity markets to 50% of Kenya’s GDP” said Geoffrey Odundo, NSE Chief Executive.  

“The launch of EFG Hermes One in Kenya forms part of our strategy to further extend our expertise and operational excellence, which has been met with immense success since the launch of our local operations in 2017, in order to further serve retail clients,” said Muathi Kilonzo, Head of Equities at EFG Hermes Kenya.

“Increasing our service offering to retail clients will see a climb in trading volumes which will result in improved liquidity and more listings, allowing the Kenyan market to continue to grow and create more opportunities for both retail and institutional investors”. 

In the first quarter of 2021, EFG Hermes Kenya was ranked first by value traded on the Nairobi Securities Exchange, building on its success in 2020, where it achieved a first-place ranking on the exchange for the year. The group’s brokerage arm witnessed similar success in other markets, ranking first in Egypt, Kuwait, and Dubai; second in Nigeria; and third in Oman.

The team’s success across frontier markets has allowed it to receive several accolades during 2020 including Best Brokerage Services by Africa Global Funds; top Frontier Research House on the Institutional Investor 2020 poll for the third consecutive year, with key analysts ranking second and third individually; Best Broker in Kenya and Nigeria by EMEA Finance African Banking Awards; and Broker of the Year in Nigeria by the Business Day Awards.

EFG Hermes Holding is the leading financial services corporation in  Frontier Emerging Markets and the leading investment bank across the MENA region. Its footprint spans thirteen countries across four continents, covering 75 of the most compelling global markets.

 

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