NAIROBI, Kenya, Oct 17 – EGM Securities has launched Africa’s first online forex trading platform in Kenya using multiple payment channels including mobile payment channel such as M-Pesa.
The service is expected to provide the market with exposure to global macro opportunities such as foreign exchange, oil, gold and other precious metals and commodities.
EGM Securities’ CEO Kevin Ng’ang’a says the service will give Kenyans the opportunity to participate in global forex markets in a strictly locally regulated environment and at lower transaction costs.
“Increased access to global forex markets and innovative financial offerings for Kenya’s investment community is a major leap forward for the country to advancing its financial markets depth and economic growth. We are very excited at the prospect that lies ahead for the financial markets in Kenya,” Ng’ang’a said.
The forex market with daily volumes estimated at USD 5.3 trillion is the largest financial market in the world.