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• Acquisition of a Stock Exchange Company
EFG Hermes, a leading financial services company in the frontier and emerging markets, plans to establish in Nigeria to continue its global expansion. EFG Hermes has entered into a definitive Sale and Purchase Agreement (SPA) with a view to acquiring a 100 per cent stake in Primera Africa, a leading brokerage firm in Nigeria. EFG Hermes plans to complete the acquisition of Primera Africa by August 31, 2018.
EFG Hermes will use its Nigerian base as a platform for expansion in West Africa. EFG Hermes was recently licensed by FCA to operate in the UK.
Based in Lagos, Primera Africa already offers a full range of brokerage and research services to domestic and international investors. At the end of the acquisition, Primera Africa will operate under the EFG Hermes brand, bringing to the Nigerian market an extensive network of investors who are constantly looking for attractive opportunities in high growth markets.
Group Chief Executive Officer, EFG Hermes Holding, Karim Awad noted that Nigeria is the fourth direct entry as the company continues its strategy of geographic expansion in high-potential emerging frontier markets.
"At the end of this transaction, we will have a direct presence in 12 out of four jurisdictions." Awad said:
Co-Chief Investment Officer, Investment Banking, EFG Hermes, Mohamed Ebeid noted that Nigeria is the largest Africa's largest consumer market and consistently ranks among the continent's three largest economies alongside Egypt and South Africa.
It noted that the market for Nigerian capital d for most of the brokerage executions and business income among all the frontier markets in which it was indirectly executed in 2017.
"We enter a market that has a fascinating history This is not just one of the largest and most economically diverse border markets, it's a growth story that has years to go after a year. series of reforms st and a devaluation of the national currency. As oil prices recover, with large portfolio inflows and with the demonstrated ability to tap the global debt markets, Nigeria will benefit from a broad monetary stability, we believe, remaining attractive in valuation terms, "said Ali Khalpey CEO of EFG Hermes Frontier.
Khalpey noted that since the company expects an increase in stock market trading to boost the global interest in Nigeria over the next 12 to 18 months, EFG Hermes is well positioned to utilize its global network of customers to seize local market opportunities, benefiting from the experience of its award-winning team for exploring the opportunities of emerging frontier markets
With a current presence in eleven countries on four continents, EFG Hermes in Egypt and has had more than 30 years of success as a company has been a leader in financial services with access to emerging and frontier markets.
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