Nigeria: EFG Hermes Gains Top Spot At Kenya, Nigerian Stock Exchange

23 January 2021

Egyptian Financial Group Hermes Holding, EFG Hermes, has been 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 $717.4 million changing hands in Kenya, $483.9 million in Nigeria, $33.6 million in Ghana, and $20.3 million in Tanzania, among others.

Commenting, Chief Executive Officer of EFG Hermes Frontier, Ali Khalpey said, "We are exceptionally proud of the work we've put 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 are 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."

Also speaking, Frontier Equity Sales & Head of Equities Kenya at EFG Hermes, Muathi Kilonzo, said, "We have worked hard to increase domestic penetration with local accounts and delivering outstanding services primarily due to the local knowledge, strength and perseverance of the team. The launch of a Kenyan online trading platform in 2021, the first of its kind on the market, would firmly establish our positioning in the country and allow retail growth nationwide."

The company noted that its achievements in Nigeria have been laudable inspite of challenges that presented in 2020.

Chief Executive Officer of EFG Hermes Nigeria, Lilian Olubi, said, "We feel very proud not only of the accolades and rankings but of the confidence that our esteemed local and international clients have bestowed on us, entering the year ahead well positioned to capture new investments into Nigeria."

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