Exclusive: The man who took FX to Africa! Jean-Raphael Nahas moves to FX88 after 5 years at Blackwell Global

Jean-Raphael Nahas stands out as a senior business development executive with genuine knowledge in establishing successful operations in emerging regions. This week, his five year tenure comes to a close as he moves on to FX88 as Business Development Director

Africa is, without doubt as much of a fascinating and varied continent as it is an enigma.

For retail FX brokerages, this vast land mass has been viewed as an area of great interest due to the willingness of its urban population to invest in alternative asset classes and their innate distrust for local institutions and methodology.

Whilst this has presented a massive opportunity, navigating the extremely difficult business landscape in many of the countries with the greatest potential client acquisition opportunities is not for the feint hearted, and thus the immaturity of the market remains.

Except in one case, that being the case of Blackwell Global, a large retail FX firm whose origins lie in the Asia Pacific region, and whose client base is largely centered on the Chinese mainland.

Indeed, Blackwell Global is one of the most prominent brokerages among Chinese IBs, and has been for several years, however from the company’s international office in Cyprus, Jean-Raphael Nahas spent five years as Head of Business Development, before leaving this week to join FX88 as Business Development Director.

Mr Nahas, during his tenure at Blackwell Global, actually succeeded in establishing the company’s office in Nigeria, and has regaled to FinanceFeeds on many occasions the interesting matters that need to be overcome when making an entry – and more importantly a success – in any of Africa’s untapped markets.

Jean-Raphael Nahas with Andrew Saks-McLeod at Blackwell Global’s european office in Cyprus

One aspect is cost, where an advantage lies if approached properly. In February this year, Mr Nahas explained to FinanceFeeds “In Nigeria, there is currently a fantastic opportunity and great potential, partly due to the devaluation of the naira. Nigeria is an attractive destination for international brokers to set up, and some brokers have been there for some years now. it is important to take this opportunity to set up an office for very little money.”

Mr Nahas, who joins FX88 this week, will look to continue his foray into Africa, this time concentrating on taking the company into the continent’s most developed and well organized nation, South Africa.

South Africa is renowned for having an excellent banking structure, and a very well organized financial markets economy, which dates back to the colonial period, and was, rather like that of Australia, originally based on raw materials and commodities trading.

Mr Nahas expressed his concern over European banks’ sustainability recently, explaining to FinanceFeeds

“The main worry now for European banks is the plunge of interest rates being set to a negative which of course will have effect on the balance sheets. in addition many banks are exposed due to the oil prices. overall this brings great uncertainty to trade bank stocks and there is a way FX companies can benefit this from this change.”

“Forex companies nowadays offer a number of trading instruments and therefore can attract many investors. Investors can benefit ofcourse from the high liquidity round the clock and benefit from the leverage offerings” concluded Mr. Nahas.

By identifying and succeeding in new markets with great opportunities, Mr Nahas is one of the astute business development professionals of the industry.

A resident of Cyprus, Mr Nahas is multilingual, and was educated in Britain at the University of Portsmouth, where he graduated in 2011 with a Bachelor of Arts (BA) in Marketing.

Hear more of Jean-Raphael Nahas insights into succeeding in new and exciting markets in this podcast:

Read this next

Digital Assets

Binance executives sue Nigerian authorities over rights violation

Two senior executives from Binance have filed a lawsuit against against Nigeria’s national security adviser’s office and its anti-corruption agency, alleging violations of their fundamental rights.

Retail FX

Banxso announces 8.7% interest rate on deposits in South Africa

“With Banxso, they can enjoy the benefits of both worlds – earning competitive interest and having the freedom to trade, all within the same platform.”

Industry News

FINRA to publish transaction details in U.S. Treasury securities

“Consistent with our longstanding practice, FINRA is introducing greater transparency in a calibrated and careful manner, benefiting liquidity and resilience in this critical market while also mitigating potential information leakage concerns.”

Institutional FX

OpenYield launches “cheap and easy” fixed income trading for brokers

“We’re on a mission to make bonds cheap and easy to trade, and are excited about the opportunity to build generational capital markets infrastructure.”

Digital Assets

Sumsub and Mercuryo publish a guide for VASPs: “Mastering Travel Rule Compliance”

“At Sumsub, we’ve concentrated our efforts on filling the gap in understanding the complexity of Travel Rule regulation and helping organizations find the best solution to stay safe and compliant while minimizing costs and avoiding potential risks of non-compliance. This guide we created with Mercuryo, our trusted partner, is the ultimate navigation tool all VASPs can consult.”

Digital Assets

Bitget Wallet Leads with Record Swap Volume & New Crypto Innovations

This week, Bitget Wallet achieved a milestone by surpassing Metamask with a record 388,757 Swap order transactions, securing the global lead. The significant 7-day trading volume, almost 68,000 more than its rival, underscores its liquidity and user trust. This robust activity signals Bitget Wallet’s prominent role and reliability in the dynamic crypto market.

Digital Assets

Embarking on a Digital Currency Journey

Imagine you’ve stumbled upon a treasure map, leading you to untold riches hidden in the vastness of the internet. Instead of gold coins and jewel-encrusted goblets, this treasure comes in the form of digital currencies, the modern-day loot coveted by many.

Reviews

Traders Union Experts Share The Trading Analyst Review For 2024

Navigating options trading in rapidly shifting markets poses a considerable challenge. This is where options trading alert services become invaluable. They aid traders in keeping abreast of evolving opportunities and market trends. In this assessment, Traders Union experts scrutinize The Trading Analyst alert service to ascertain its efficacy. 

Digital Assets

BlockDAG’s Presale Achieves $9.9M: Aiming For A 5000-Fold ROI As Cardano’s Price Rises And Fantom Launches Sonic

Explore Cardano’s surge, Sonic’s efficiency, and why BlockDAG’s growth makes it the top crypto choice. A deep dive into the future of blockchain investments.

<