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Naira currency: Ajami must go

CAPITAL MARKET

EFG Hermes, a financial services corporation in frontier emerging markets (FEM), said it is now ranked first on the Nairobi Securities Exchange and second by value traded on the Nigerian Stock Exchange, highlighting the significant strides made in both Sub-Saharan Africa’s western and eastern financial hubs.



The firm also ramped up execution capabilities across Sub-Saharan Africa, with shares worth USD 717.4 million changing hands in Kenya, USD 483.9 million in Nigeria, USD 33.6 million in Ghana, and USD 20.3 million in Tanzania, among others.

Reflecting on this performance, Ali Khalpey, CEO, EFG Hermes Frontier, stated: “We are exceptionally proud of the work we’ve done 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. 

“With FEM stocks expected to come out stronger in the year to come, we’re confident that we’re in a position to capitalize on the allocation shift back into FEM, as well as the continued growth in domestic capital allocation to capital markets. We intend to further solidify our presence in Sub-Saharan Africa and gain further market share with new product launches,” he added. 

In Nigeria, EFG Hermes leveraged the significant strides taken in 2019 to reinforce its standing and traction with domestic and foreign institutional investors alike, ending the year with a market share close to 19.2%.”

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