EFG Hermes Kenya launched, on Monday, its online equity-trading platform, EFG Hermes One, which will see the Firm offer retail investors seamless and convenient stock trading on the Nairobi Securities Exchange (NSE).
The online trading platform was launched during an event co-hosted by EFG Hermes Kenya and the NSE, in the presence of Muathi Kilonzo, Head of Equities at EFG Hermes Kenya, and Geoffrey Odundo, CEO of the NSE.
Ali Khalpey, CEO of EFG Hermes Frontier, said, “With capital market trends demonstrating ever-increasing interest from retail investors across the world, we aim to increase access and awareness to capital markets to foster better equity trading across sub-Saharan Africa.”
“Our expansion into the retail space is part of our commitment to growing our services in the African continent,” he added, “We hope to replicate the success we have witnessed with the EFG Hermes One application across other markets in which the group operates, in order to offer our clients in Kenya a comprehensive range of services and further solidify our leadership in the market.”
EFG Hermes Kenya seeks to capitalise on the country’s high mobile phone penetration rate by leveraging digital channels to deliver efficient, convenient, and comprehensive services able to meet investors’ needs.
The EFG Hermes One application offers a quick and efficient on-boarding process, allowing users to download the application and sign up to create an account by entering their personal information. Similarly, the application boasts a user-friendly and easy-to-navigate interface that allows users to trade through their desktops, tablets, and mobile phones.
Odundo said, “The launch of the application comes on the heels of the NSE’s introduction of day trading for retail investors, allowing them to buy and sell stocks as well as settle trades in a single day.”
“The move is an integral part of our desire to open up the market to further retail participation, see more equities listed on the NSE, and grow the value of our equity markets to 50% of Kenya’s GDP,” he also said, “We are thrilled to be working together with EFG Hermes Kenya as we turn over a new page in the growth story of the Kenyan market.”
In addition to executing trades, EFG Hermes One users can access real-time stock quotes; place, track, review, edit, and cancel open orders. Users can also build, monitor, and customize equity watch-lists for individual stocks, stock portfolios, and their investment portfolios in real-time.
The application also features several portfolio management tools […]