EFG Hermes, an Egyptian investment management firm, facilitated $1.25 billion worth of securities transactions on sub-Saharan African stock markets in 2020, according to a press release issued by the company.
With an aggregate transaction value of $717.4 million, the Nairobi Securities Exchange (Kenya Stock Exchange) recorded the largest volume of activities in the region.
The Egyptian firm is the second largest on the Lagos Stock Exchange, with 484 million stock exchange transactions managed. Other countries where it has been active are Ghana ($33.6 million transactions) and Tanzania ($20.3 million).
"We are proud of the work we have done to enter sub-Saharan Africa. Our success today despite difficult circumstances is a testament to the long-term vision our company has taken on the development of the financial market in the region," said Ali Khalpey, MD of EFG Hermes Frontier.