Kweli Capital acquires Old Mutual Securities in brokerage push

Old Mutual building in Nairobi. Old Mutual Securities carries a deep legacy in Kenya's capital markets. [File, Standard]

Kenyan investment firm, Kweli Capital, has acquired a majority stake in brokerage Old Mutual Securities Ltd (OMS), the companies said in a statement, marking the technology-driven company's strategic expansion into regulated financial services.

The acquisition will see Kweli Capital take over the Nairobi-based brokerage from the Old Mutual Group. The move positions the firm at a place where it will build a full-service investment bank targeting East Africa's growing capital markets.