Equiti Group, a firm that across the world, is going to be launching a new brand in Kenya this May.
Called FXPesa, the broker will be operated by EGM Securities – Equiti Group’s Kenyan subsidiary.
According to on Twitter, Facebook and LinkedIn, FXPesa will be launched on May 4th of this year.
The broker is going to be putting on a launch party at the Intercontinental Hotel in Kenya’s capital city, Nairobi.
Equiti Group may have had another firm in mind when it came up with a name for its new brand.
M-Pesa is a service, offered by Vodafone, that allows users to transfer money on their mobile phones. Initially launched in east Africa, it now operates in several countries around the world, including Romania, India and Afghanistan.
Launching one year later
Whether there is any relationship, on a corporate level, between the service and FXPesa is unclear.
Having said that, FXPesa users will be able to make payments on the platform using M-Pesa.
We know that because of an announcement made by Equiti Group in July of last year.
It was then that the company said that it had in Kenya – EGM Securities.
That was itself preceded by Equiti Group’s announcement, in April of last year, that it had become the first company from Kenya authorities.
The African country is becoming an attractive proposition for retail brokers.
With firms looking to expand into emerging markets, the relative stability and solid regulatory regime the country offers means brokers looking to work in Africa see it as one of the more promising jurisdictions in the continent.
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