KIG BV, the Dutch subsidiary of Global Capital Group (GKG), has acquired South African-based financial services provider Maru Asset Managers, which is licensed by the Financial Sector Conduct Authority (FSCA).
With this acquisition announced on Monday, the brokerage group entered the lucrative South African market, Africa’s second largest economy.
conquer Africa
The company also detailed that it was part of its expansion initiative on the continent. In May, the group obtained an investment dealer license from the Mauritius Financial Services Commission.
“We are very excited to expand our global presence to South Africa,” said Gökhan Erkıralp, CEO of KIG BV. “The country’s rapid population growth and local market presence is an important opportunity for us. South Africa is also the main financial hub for the African continent, which will potentially provide access to a growing client base.”
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GKG’s latest acquisition, Maru is an asset management company. Offers equity investment solutions for the institutional investment market. This will allow the group to provide brokerage services for equities, money market instruments, bonds, securitized debt, guarantees, certificates and other instruments to investors in South Africa.
The official press release explained that the acquisition provided KIG BV with a license for bonds, derivative instruments and collective investment schemes, as well as long and short-term deposits in the African country.
KIG BV aims to build a stronger, more innovative and holistic approach to the international financial markets. We have already entered Africa through GK Trade International in Mauritius, and today’s acquisition depends on that. Our group will continue its expansion to increase its global reach and products.”
Apart from Africa, the group is also expanding its reach into most major global markets. Earlier this year, the United States and Australia entered into two acquisitions, and also expanded its Turkish portfolio by purchasing a local multi-asset broker, Isik Menkul.
