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Wednesday, 20 January 2021

EFG was busy last year

EFG Hermes topped brokerage league tables in Egypt, Dubai, Kenya and Kuwait in 2020, according to a press release (pdf). EFG topped the EGX’s brokerage league tables all year to capture 36.4% market share, while the investment bank boasted market shares of 32.5% in the Dubai Financial Market and 58.3% in Nasdaq Dubai. Over in Kenya, EFG captured 52% of the market only three years after entering the market, “significantly outpacing all other players.” The firm also consolidated its seat at the top of Kuwait’s brokerage league table for the third consecutive year as trading activity picked up before and after the MSCI event in November, which saw the market upgraded to EM status. The upgrade helped EFG set a record for the number of total executions across the MENA region with USD 2.7 bn traded.

The firm remained among the top players in Abu Dhabi, Nigeria, and Oman and was the number two foreign broker in Saudi with a market share of 2.2%. EFG Hermes currently operates in 12 markets in MENA and covers some 75 frontier markets.

EFG sees growing foreign inflows into frontier and emerging markets as an asset class, said Ali Khalpey, CEO of EFG Hermes Frontier. The firm will work to “gain greater footing in Sub-Saharan Africa as well as Southeast Asia by launching new products, offering new services, and creating partnerships,” he added.

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