Genghis Capital, one of Kenya’s leading investment banks, has announced a partnership with EGM Securities to offer its clients a wide range of alternative asset classes including ‘online currencies.’
EGM Securities is one of only two brokers licensed in Kenya for online brokerage services and will now be offering Genghis Capital clients investments in the following assets:
- Online currencies
- Global indices
- Precious metals and oil
- Tech stocks like Zoom and Google
- Pharmaceutical stocks
- Biotech companies stocks like Pfizer
- Global banking stocks
Speaking about the partnership, Samuel Kiraka, CEO, EGM Securities, said:
“Our quick to market approach to partner with Genghis was made possible by being part of a global group of companies with access to teams of specialists who can efficiently develop bespoke solutions for banks and brokerage houses, no matter the ask.
Our ambition is to be the premier provider of multi-asset products in Kenya, East Africa and the rest of Africa. We will achieve this by partnering with well-respected corporates such as Genghis.”
— Genghis Capital Ltd. (@genghiscapital) June 8, 2020
Speaking about the value add this will offer to its client base, Kenneth Minjire, Head of Securities, Genghis Capital, said:
“The partnership allows Genghis Capital to offer its clients the ability to trade for themselves in the global space. In addition, it falls within our vision to offer our clients world-class investment options allowing them to diversify over different asset classes.
“We are always looking to expand our offering while focusing on making investing an easy and straightforward process. We consider the partnership with EGM Securities as part of that mandate. We want to offer our clients additional options and exposure when it comes to investment vehicles. Since EGM Securities is regulated by the Capital Markets Authority of Kenya and Genghis has sophisticated clients willing to explore new asset classes for attractive returns, a partnership between our two companies is a natural fit.”
While digital currencies like Bitcoin are not explicitly regulated in Kenya, the regulator, Capital Markets Authority, has come out and labelled these currencies as securities, which currently allows them to regulate them as such.
The only two licensed brokers in Kenya, Scope Markets and EGM Securities, allow its users to use the MT4 platform, which support BTC/USD cryptocurrency trading. It will be interesting to see how this partnership provides access to these digital assets to a new class of investors in Kenya.
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