Equity stock brokerage arm Exotix named Africa’s best
An investor at the Nairobi Securities Exchange. PHOTO | FILE
Equity Investment Bank (EIB) and Exotix Partners have been named the best performing market intermediary in Africa after tripling their share of the Kenyan market in 2015.
The EIB and Exotix, who entered into a partnership in August 2014, were awarded at this year’s Africa Investor CEO international investment summit held in in New York, US.
The summit brought together representatives of global institutional investors, stock exchanges, pensions and sovereign wealth funds.
The EIB, a subsidiary of Equity Bank, grew its share of traded turnover at the Nairobi Securities Exchange (NSE) from 4.5 per cent in 2014 to 13.9 per cent in 2015 (ranking third in the market) after expanding its foreign trading desk boosted by the Exotix partnership.
The stockbroker also got a shot in the arm last year from handling part of the block trades of shares of its parent company by private equity fund Helios Partners, which was selling off its stake to various institutional investors in a deal that was eventually worth in excess of Sh50 billion.
Africa Investor is an investment and communications firm which advises governments, international organisations and institutional investors on capital market investments in Africa. It organised this year’s summit in partnership with the New New York-based NASDAQ.
Other Kenyan award winners at the summit included Kenya Power, which was named the most socially innovative company for its programme of connecting low income customers in slums and rural areas with electricity at subsidised fees.
The NSE was named the most innovative African stock exchange, jointly with the West African composite bourse BVRM.
Safaricom CEO Bob Collymore was named the African Investor international business leader of the year, and Sovereign Wealth Fund of Kenya the African sovereign wealth fund initiative of the year.
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