Equiti’s EGM Securities partners with Sterling Capital for multi-asset trading in Kenya

Rick Steves

“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” – Samwel Kiraka, Chief Executive Officer of EGM Securities

EGM Securities, the Kenya-based non-dealing forex broker and subsidiary of Equiti Group, has announced a corporate partnership with Sterling Capital.

The partnership will leverage the investment bank’s leading position in equities trading to provide Kenyans with the opportunity to trade top-performing global stocks, as well as other asset classes such as indices and commodities like gold and oil.

Samwel Kiraka, Chief Executive Officer of EGM Securities, commented: “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”, Mr. Kiraka added.

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 is at the forefront of non-dealing online forex brokerage in Kenya. The Equiti Group subsidiary was the first of its kind to be granted regulatory approval from the Capital Markets Authority.

The broker was also the first to offer derivative contracts on the Nairobi Securities Exchange Derivatives Market. Among the benefits of trading derivatives instead of their cash equity equivalent are the ability to short sell Kenyan cash equities, lower margin costs, and lower transaction costs at a flat rate of 0.14%. Investors can protect their portfolios against adverse price movements by trading futures that reflect their stock portfolios.

The Kenya-based broker also offers in-person financial education at its Nairobi and Nakuru offices as well as other educational offerings like regular seminars and training webinars for free.

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.”

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 is palpable. Both the S&P500 and NASDAQ, as well other global stock indices, are printing new all-time highs almost every week. This has unsurprisingly fueled demand for exposure to the global stock markets.

EGM Securities and Sterling Capital are addressing this demand by partnering up and expand access to multi-asset products in Kenya.

 

  • Read this next

    Digital Assets

    Binance Broadens Its VIP Invitation Program for Traditional Asset Traders

    Step Into the Future of Trading: Binance Invites Traditional Asset Traders to Join Its Exclusive VIP Program

    Digital Assets

    Algotech Presale Revolutionizes DeFi Scene, Surpassing $1 Million Raised in Just Weeks

    Emerging Cryptocurrency trading platform Algotech (ALGT) known to be famous with its cutting-edge features. The TradFi platform features advanced algorithms to provide a competitive edge to traders. 

    Fintech

    Revolut enables direct transfers from Singapore to Bangladesh and Kenya

    British fintech firm Revolut has broadened its array of services with the introduction of the “Mobile Wallets” feature in Singapore, facilitating direct money transfers to Bangladesh and Kenya.

    Digital Assets

    SBF claims “zero loss” to FTX customers, 100-year sentence is “grotesque”

    Sam Bankman-Fried, the former FTX CEO who was found guilty of fraud charges last year, is facing his sentencing next month. But before that day arrives, he’s making a plea for what he considers a fair shake.

    Digital Assets

    Bitcoin nears $62,000, sparking retail buying frenzy

    Bitcoin dashed past the $61,000 barrier on Wednesday, a peak it hadn’t touched since the waning days of November 2021.

    Market News

    OPEC+ Extension of Oil Output Cut Causes Rally

    The dynamics surrounding crude oil are indeed fascinating, given its unique role as both a globally traded commodity and a vital energy source deeply influenced by the OPEC+ alliance’s decisions.

    Institutional FX

    DKK reports 226% growth in 2023 with eyes on African expansion

    “Our numbers are beginning to show how we are powering, the growth required by emerging markets, and we plan for the success of our strategies to continue to thrive in 2024.”

    Industry News

    ‘WTF’ as in ‘What The Fraud?’, Sumsub’s new podcast on digital fraud

    “We found a lack of informative podcasts talking about digital fraud threats and prevention for business owners. So, we decided to dive in and share our expertise along with industry top minds in the ‘What The Fraud?’ podcast.”

    Digital Assets

    Coin Metrics integrates market data from Cboe Digital

    “We are pleased to work with Coin Metrics and believe that having quality and timely data, and systems to analyze that data, will help crypto markets mature as well as evolve to become a core component of a diversified investment portfolio. We are focused on providing access and solutions to the spot and derivatives crypto market in a way which mirrors an investor’s experience with traditional markets.”

    <