EFG Hermes tops brokerage firms in Egypt, Kuwait, Dubai, Kenya

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Cairo – EFG Hermes Securities Brokerage topped brokerage firms in Egypt, Kuwait, Dubai, and Kenya during 2020 and came in the second position in Abu Dhabi and Nigeria and the third place in Oman.

The brokerage firm kept its leading position on the Egyptian Exchange (EGX), the Dubai Financial Market (DFM), and Nasdaq Dubai with respective market shares of 36.40%, 32.53%, and 58.33% in 2020, according to a statement on Tuesday.

EFG Hermes covers 12 markets in the MENA region and 75 frontier markets.

The firm also secured the first ranking in Kuwait for the third consecutive year as trading activity increased before and after the MSCI rebalancing event in November 2020 that saw the market upgraded to EM status. The company registered the number of total executions across the region at a value of $2.7 billion during the event.

EFG Hermes came in second ranking on the Abu Dhabi Securities Exchange (ADX) with a market share of 27.57% and also secured the second position in Saudi Arabia among foreign brokerage companies with a market share of 2.22%.

It also ranked third in Oman with a market share of 24.50%.

It is now the top-ranked brokerage player in Kenya with a 52% market share and a turnover of $717.4 million and the second in Nigeria with a market share of 19.2% and a turnover of $483.9 million.

The company also secured $1.06 billion in turnover in Pakistan, and $33.6 million in Ghana, and $20.3 million in Tanzania.

Source: Mubasher

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