Genghis Capital, an investment bank in Kenya has partnered with EGM Securities, a non-dealing online foreign exchange broker to expand its offering to include a wider range of alternative asset classes.
These include online currencies, commodities, global indices, precious metals, and oil, as well as high demand stocks including tech stocks like Zoom, global banking stocks, pharmaceuticals, and biotech companies like Moderna and Gilead Sciences that are working towards a coronavirus vaccine.
Mr. Samwel Kiraka, CEO of 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 task.”
“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,” added Mr Kiraka.
Commenting on the partnership, Mr Kenneth Minjire, Head of Securities for Genghis Capital said: “Partnering with EGM Securities is a significant step for Genghis Capital.”
“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.”
Genghis Capital is licensed by both the Capital Markets Authority (CMA) and the Retirement Benefits Authority.
EGM Securities is part of the Equiti Group of companies that has locally regulated subsidiaries across the world such as Equiti Capital, regulated by Financial Conduct Authority (FCA) in the UK.
EGM Securities is regulated by the Capital Markets Authority of Kenya
Some of the global stocks within the EGM Securities portfolio include Facebook, Amazon and Alphabet and key global hospitality brands like Mariott and Hyatt hotels and travel booking sites Booking.com and Expedia.
“Our company also responded quickly to the vast flows of capital into medical research as the world looks to the pharmaceutical and biotech industries for a coronavirus vaccine by adding popular pharmaceutical stocks: Merck, Pfizer, GlaxoSmith, Biogen, Moderna and Gilead Sciences – whose Covid-19 treatment drug remdesivir is now being used in hospitals.”