Egypt’s investment bank, EFG Hermes ranked first for in Egypt, Kuwait, Dubai, and Kenya, placing second in Abu Dhabi and Nigeria (by value traded), and securing a third-place spot in Oman during the financial year 2020.
The leading financial services corporation in frontier emerging markets (FEM), released on Tuesday its overall brokerage rankings for markets across its four-continent footprint,
The company works to offer clients unparalleled coverage of 12 markets in the MENA region and 75 frontier markets.
“Despite the unprecedented conditions brought on by the COVID-19 pandemic, which saw a global slump in investor sentiment, we’re proud to have maintained our top rankings and execution volumes across our MENA footprint,” said Ahmed Waly, EFG Hermes Head of Securities Brokerage.
“Thanks primarily to the perseverance of the team, we’ve managed to leverage our already strong positioning to capture opportunities brought on by market conditions, allowing us to continue to grow our presence in some of the world’s most compelling markets in the region.”
EFG Hermes maintained its number one ranking on the Egyptian stock exchange (EGX), capturing a market share of 36.40 percent in 2020 and held on to its top ranking on the Dubai Financial Market (DFM) and Nasdaq Dubai, with market shares of 32.53 percent and 58.33 percent respectively.
The division ranked first in Kuwait for the third year in a row as trading activity picked up before and after the MSCI rebalancing event in November that saw the market upgraded to EM status.
The Firm hit the highest number of total executions across the region ever traded by the division at $2.7 billion during the event.
EFG Hermes secured a second ranking on the Abu Dhabi Securities Exchange (ADX) with a market share of 27.57 percent and won a second-place spot in KSA among foreign brokerage firms with a market share of 2.22 percent. It was also among the top ranked brokers in Oman, capturing a market share of 24.50 percent and ranking third.
“We are extremely optimistic about the year ahead for FEMs, particularly with foreign inflows already being seen toward the end of the year, a trend we expect to continue into the asset class, and believe the steps we’ve taken this year put us in an ideal position to capture growth,” said Ali Khalpey, CEO of EFG Hermes Frontier.
“We’re forging ahead with plans to consolidate the base we’ve built in these markets and will continue working to gain greater footing in Sub-Saharan Africa as well as Southeast Asia by launching new products, offering new services, and creating partnerships that continue to place us as the broker of choice for all investor classes.”
Entering the market only three years ago, EFG Hermes is now the top-ranked brokerage player in Kenya with a 52 percent market share, significantly outpacing all other players.
Meanwhile in Nigeria, EFG Hermes capitalised on gains made since entering the market to stand as the second ranked broker by value traded with a market share of 19.2 percent.
The Firm also ramped up execution capabilities across Sub-Saharan Africa, with shares worth $717.4 million changing hands in Kenya, $483.9 million in Nigeria, $33.6 million in Ghana, and $20.3 million in Tanzania, among others.
