UK-based investment bank Exotix Partners has announced entry into Kenya through a partnership with Equity Investment Bank (EIB) that will see the two collaborate on research, sales and trading.
Exotix, which is focused on frontier and emerging markets, has been looking to increase activities in African markets since November 2013 when it expanded its African equities research team and announced plans to set up in Africa.
Under the agreement, subject to regulatory approval, EIB, a subsidiary of Equity Bank, will handle the UK partner’s regional trades, giving Exotix a foothold in the market.
“EIB will execute Kenya and East Africa fixed income and equity trades for Exotix international and regional institutional clients,” said Exotix in a statement on Monday.
The deal could bring in better earnings for EIB, which received its trading licence at the Nairobi Securities Exchange only in August 2013.
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