DKK Partners secures CONSUMAF license ahead of further African expansion
“The African market is in need of Foreign Exchange liquidity support to help drive forward business opportunities and support banks or financial institutions offering funding opportunities to import essential goods.”
In a significant move signaling their dedication to African expansion, DKK Partners, a leading FinTech company specializing in emerging markets and foreign exchange liquidity, has secured the CONSUMAF license.
This license, issued by COSUMAF (the supervisory and control authority for the Central African Economic and Monetary Community financial market), paves the way for DKK Partners to further enhance its financial services operations in Africa.
Ghana as a central hub for the burgeoning African market
Africa has become a focal point for global businesses seeking growth opportunities, and DKK Partners is no exception. By obtaining the CONSUMAF license, the company is positioning itself to navigate future regulatory and licensing changes in the Central West Africa region effectively.
This commitment underscores DKK’s determination to play a vital role in providing much-needed foreign exchange (FX) liquidity services to its clients and fostering the growth of African financial markets.
This development comes on the heels of DKK Partners’ recent establishment of operations in Ghana, complementing its existing presence in Cameroon. This strategic expansion aims to serve as a central hub for the burgeoning African market by offering essential FX and financial services, including virtual IBAN accounts. These services empower customers to access new territories and currencies, while also bolstering emerging market (EM) liquidity.
“The African market is in need of Foreign Exchange liquidity support”
Khalid Talukder, Co-Founder of DKK Partners, said: “As DKK Partners expands across African frontier markets, we understand the importance of ensuring we are fully eligible to operate in financial markets regardless of the regulatory framework. Acquiring the CONSUMAF license ensures we are protected against any changes later down the line, allowing DKK to continue disrupting global markets with game-changing technology for years to come.”
Sam Nti, Director at DKK Partners, commented: “The African market is in need of Foreign Exchange liquidity support to help drive forward business opportunities and support banks or financial institutions offering funding opportunities to import essential goods.”
In many African countries, such as Cameroon, Ivory Coast, and Ghana, a substantial portion of goods are priced in foreign currency rather than local currency, creating a significant need for reliable FX services. DKK Partners aims to address this gap and, by obtaining the CONSUMAF license, further democratize access to financial services in central West African markets.
FX risk management, FX liquidity, and local collections
Founded in 2020 by Dominic Duru and Khalid Talukder, DKK Partners has quickly emerged as a key player in the world of emerging markets FX liquidity provision. With revenues exceeding £100 million, the company leverages its deep expertise in foreign exchange and emerging markets to develop innovative strategies and methodologies that empower businesses to manage currency risk effectively.
At the core of DKK Partners’ mission are three key focus areas: FX risk management, FX liquidity, and local collections. The company’s tailored solutions cater to the unique needs of each client, delivering ideas that fuel growth and prosperity.
DKK Partners’ acquisition of the CONSUMAF license marks a significant step in its commitment to the African market. By securing this license, the company is not only safeguarding its operations against future regulatory changes but also positioning itself as a vital catalyst for financial growth and stability in central West Africa. As Africa continues to present promising opportunities, DKK Partners is poised to play a pivotal role in shaping the future of the continent’s financial landscape.