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