Egypt’s EFG Hermes says unit won brokerage licence in Kenya

Egypt’s EFG Hermes announced Thursday that its unit has a won a regulatory approval to start a brokerage business in Kenya as part of a big push into frontier markets.

EFG Hermes Kenya Limited has received the licence from the Kenyan Capital Markets Authority (CMA) that enables it to operate in the Kenyan market as a stock broker.

EFG Hermes, which has a presence in the United Arab Emirates, Saudi Arabia, Kuwait, Jordan and Oman, is one of the largest investment banks in the Middle East.