AXYS is pleased at the prospect of joining forces with AIB Capital as we develop and enhance our local presence in Kenya
AIB Capital and ApexAfrica Capital announce plans for a merger
AIB Capital Limited and ApexAfrica Capital Limited, today announce the signing of a binding agreement that will see the shareholders of the two Companies enter into an agreement to merge their respective Stockbrokerage, Bond Trading, Research and Corporate Finance businesses in Kenya to operate under a joint venture Company.
“We are delighted at the prospect of joining forces with AIB as a 2nd step of our development and enhance our local presence in Kenya. Both entities will continue to operate independently until the regulators approve the merge” explains Louis Lallia, Executive Director of ApexAfrica Capital Limited, which forms part of AXYS Group, the Mauritian Financial Services Group that acquired ApexAfrica in 2015.”
The new entity aims to be a market leader in Stockbrokerage, Derivatives, Bond Trading, Research and Corporate Finance Advisory. On the digital front, the combined entity will remain a clear leader in innovation, through established brands such as AIB DigiTrader the first trading platform in Kenya to fully automate the trading process. The entity will see sustained investment in networks and disruptive future technologies enhancing the range and quality of products and service offerings in the market, offering greater financial inclusion and convenience to customers.
“We are excited for the possibility to combine the two businesses; which will also create enhanced capacity through capital consolidation allowing it to create wider service solutions for clients; who will also benefit from strong relationship management and customer service excellence” says Paul Mwai, CEO of AIB Capital Limited.
The joint venture will form part of AXYS Group, and will thus provide new and greater opportunities for employee development, growth and advancement.
Both Boards firmly believe that the merged entity will be strongly placed to play a bigger and more significant role in the financial sector of Kenya, the region and beyond.
About AIB Capital Limited:
AIB Capital Ltd (formerly Afrika Investment Bank) is a Kenyan limited company, licensed by the Capital Market Authority and is engaged in the business of Stockbrokerage, Bond Trading, Research and Corporate finance advisory. The Company leverages talent and networks to service businesses and investors looking to capitalize on the East African growth story and its vibrant financial sector. To know more please visit: www.aibcapital.com.
About ApexAfrica Capital Limited:
Apexafrica Capital Ltd (Apex) was licensed as HAK Securities Ltd, on 27th June 1994 and has since become one of the premier brokerage houses operational on the Nairobi Securities Exchange (NSE). Apex specialises in Equity trading and Research.
ApexAfrica Capital became part of AXYS Group in 2015, a financial services group based in Mauritius with three decades of specialist experience. Over the years the group has consolidated its activities and expanded its footprint. Today AXYS and its subsidiaries are present in Switzerland, UAE, Kenya, South Africa, Hong Kong and offer a wide range of financial solutions such as: Asset & Wealth Management, Corporate Services, Brokerage, Corporate Finance, Asset Financing and Deposit Taking. For more information refer to their website: www.apexafrica.com | www.axys-group.com.