Cairo – Mubasher: The CEO of Kenya’s Capital Markets Authority, Paul Muthaura, said Thursday that Egyptian Financial Group Hermes Holding (EFG Hermes) will be granted a licence to operate in Kenya in the “very near term”, Bloomberg reported on Wednesday.
The chief executive officer of EFG Hermes Frontier, Ali Khalpey, told Bloomberg that the company will begin by offering institutional trading and research.
“The first step is a brokerage licence and as we establish our presence on the ground, we will expand into investment banking,” Khalpey said.
“We are talking to people about recruitment, but we will wait for the licence to become active. We are looking at a 10 to 15-person office. We would love to grow that as we add new products,” he added.
