• The all-new digital onboarding process enables domestic and diaspora retail investors to seamlessly and swiftly create accounts to trade on the Nairobi Securities Exchange, and is a first in the EFG Hermes Frontier markets.

Nairobi: EFG Hermes Kenya, the leading brokerage firm in Kenya, has launched an all-new digital onboarding process for its online trading platform, EFG Hermes One Kenya App. The streamlined digital onboarding process is integral to its strategy to promote financial inclusion in Kenya and the frontier markets in which it operates.

Muathi Kilonzo, Head of Equities, Brokerage at EFG Hermes Kenya, commented: “We are pleased to be introducing digital onboarding on our flagship EFG Hermes One app, which falls in line with our strategy to support Kenya’s commitment to digital transformation and broadens domestic and diaspora retail investor participation in the capital markets, therefore boosting market activity. WealthTech platforms have become fundamental to delivering a personalized and engaging client experience from the get-go, allowing new and seasoned investors to create accounts and transact easily and conveniently. People today are looking for solutions to help them grow their disposable income, which creates demand for investment products. Consequently, it is more important than ever to give clients access to an investment platform that grows their wealth and allows them to do so from anywhere.”

With only 1.5 million registered retail investors in a population of over 55 million, the Kenyan market has traditionally had high barriers to entry, including a high cost of trading and the need for end-to-end automation.  According to the Digital 2023 Kenya Report, at the start of 2023, Kenya had 17.86 million internet users, 10.55 million social media users, and 63.94 million active cellular mobile connections.

New market access solutions must leverage internet connectivity, smartphone, and mobile money to enable domestic and diaspora retail investors to efficiently and conveniently access value-accretive opportunities on the Nairobi Securities Exchange (NSE).

Kilonzo added, “Retail investors can already transfer funds from MPesa and use their Safaricom Bonga points to buy shares on the EFG Hermes One Kenya App, a first in the frontier markets we operate. We will use the response here to iterate, improve, and roll out in all our frontier markets.”

Once registered on the App, retail investors can execute trades, access real-time stock quotes, and place, track, review, edit, and cancel open orders. In real time, they can build, monitor, and customize equity watch lists for individual stocks and stock portfolios.

EFG Hermes was awarded the best brokerage services in Africa by Africa Global Funds Service Providers Awards 2022. It was also named Financial Times’ Fastest Growing Companies ranking 55 in Africa in 2022.

-Ends-

About EFG Hermes Kenya

EFG Hermes Kenya launched its operations in 2017, being the Firm’s first foray into Sub-Saharan Africa in a step that will serve as an East African hub into more neighboring markets. As part of the Firm’s plan to expand into high-potential frontier markets, EFG Hermes Kenya is managed by dedicated professionals with decades of experience serving institutional clients with an appetite for emerging and frontier market opportunities.

Services

Securities Brokerage

EFG Hermes Kenya Securities Brokerage is run by talented professionals with a proven track record of uncovering compelling frontier opportunities. The division is an expansion of EFG Hermes’ securities brokerage division, the largest team across the MENA footprint, and a consistent leader of rankings across exchanges. The award-winning division offers its clients unsurpassed deep, on-ground access to frontier market opportunities.

Website: https://kenya.efghermesone.com/

Research

Ranked #1 in EMEA (Europe, Middle East & Africa) by Institutional Investor in 2017 and consistently attaining a leading position in major global polls, EFG Hermes Research provides insights into some of the world’s most compelling emerging market opportunities. EFG Hermes Kenya’s clients have access to analysts with on-the-ground presence and deep market knowledge, which cover East African markets Kenya, Tanzania, Uganda, and Rwanda.

About EFG Hermes Holding

With a current footprint spanning 14 countries across four continents, EFG Hermes Holding (EGX: HRHO.CA – LSE: EFGD) has grown over 39 years of success to transform from a pure-play investment bank in MENA into an impact-driven universal bank in Egypt with the leading investment bank franchise in Frontier and Emerging Markets (FEM). Drawing on our proven track record and a diverse team of talented employees, we provide a broad spectrum of financial services, including advisory, asset management, securities brokerage, research, and private equity, to the entire FEM region. In our home country, we have the fastest-growing non-bank financial institutions (NBFI) platform, with operations covering microfinance, leasing, factoring, Buy-Now Pay-Later (BNPL), digital payment solutions, mortgage finance, and insurance.

And with its latest acquisition of a majority stake in aiBANK, the Firm was able to provide commercial banking products and services.

Through its three verticals, the Investment Bank, Non-Bank Financial Institutions (NBFI), and Commercial Bank, the group is perfectly positioned to consistently bring disruptive financial products and services to the market space, offering a holistic portfolio that best serves its growing base of individual clients and businesses of all sizes.

Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Oman | Jordan | Pakistan | UK | Kenya | USA | Bangladesh | Nigeria | Vietnam | Singapore

Learn more about us at www.efghermes.com & stay connected with us on:     
May El Gammal
Group Chief Marketing & Communications Officer of EFG Hermes Holding
Email: melgammal@efg-hermes.com
Omar Salama
Communications Manager of EFG Hermes Holding
Email: osalama@efg-hermes.com   
The EFG Hermes Holding Public Relations Team
Email: publicrelations@efg-hermes.com

Note on Forward-Looking Statements

In this press release, EFG Hermes Holding may make forward-looking statements, including, for example, statements about management’s expectations, strategic objectives, growth opportunities, and business prospects. These forward-looking statements are not historical facts but instead represent only EFG Hermes Holding’s belief regarding future events, many of which, by their nature, are inherently uncertain and are beyond management’s control and include, among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending and future legislation, regulations and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.