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Stock broker launches online equity trading portal

MONEY & MARKET
By Peter Theuri | July 6th 2021

Nairobi Securities Exchange Chief Executive Geoffrey Odundo. [Jonah Onyango, Standard]

Brokerage firm EFG Hermes Kenya has launched an online equity-trading portal, EFG Hermes One.

The platform offers retail investors “seamless and convenient” stock trading at the Nairobi Securities Exchange (NSE) - boosting access to capital markets by investors.

“With capital market trends demonstrating increasing interest from retail investors, we aim to increase access and awareness to capital markets to foster better equity trading across sub-Saharan Africa,” said EFG Hermes Frontier Chief Executive Ali Khalpey.

He said the expansion into the retail space is part of the firm’s commitment to growing its services across Africa.

EFG Hermes Kenya seeks to capitalise on high mobile phone penetration to meet investors’ needs.

NSE Chief Executive Geoffrey Odundo said the portal allows retail investors 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 per cent of Kenya’s GDP,” Odundo said.

Portal users can access real-time stock quotes, place, track, review, edit and cancel open orders.

Head of Equities at EFG Hermes Kenya Muathi Kilonzo said the portal will create more opportunities for both retail and institutional investors.

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