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Arqaam Capital enters South African market
25 February 2014
Arqaam Capital receives first equities banking license to be issued by the JSE in three years
Johannesburg Stock Exchange
Arqaam Capital has become the first new member on the
Johannesburg Stock Exchange in the past three years after
receiving an equities banking license.
Arqaam has chosen South Africa as the base for its African
investment and advisory business, which will drive their
expansion into African markets with an initial focus on Ghana,
Kenya and Nigeria.
Arqaam CEO, Riad Meliti said: "Our plan is to replicate the
emerging markets model that has seen such success in our Dubai
office. By drawing on South Africa's world-class skills and
investment infrastructure, Arqaam will expand to include
multiple business practices and become a hub from which we can
participate in the African Growth story."
Meliti adds that Arqaam South Africa offers exposure to
African stocks, on the ground intelligence and further
deal-making capacity to over 700 institutional investors. By
introducing African market opportunities to these clients,
Arqaam will attract new investment into continental
"To South African investors we offer exposure to frontier,
emerging and MENA markets backed by multi-territory comparative
research. This is a compelling offer and one of the reasons
Arqaam is gaining, on average, 40 new institutional clients per
quarter many of whom are demanding access to fast
growing African markets," he adds.
The banking license shows the JSE's recognition for the need
for a bank such as Arqaam in the South African market.
Nicky Newton-King, CEO of the JSE said: "We are excited to
welcome Arqaam Capital as the newest equity member of the
exchange. Not only is Arqaam Capital well respected for its
proven track record of success in emerging markets across North
Africa and the Middle East, it is also the first brokerage to
join the JSE from the Gulf region. We see their membership as
another step in strengthening the JSE's relationships with
financial market players in other emerging markets."
Arqaam will offer local and international clients South
African equity products backed by in-depth research reports of
businesses across multiple markets. The bank's local offer will
expand into derivatives and bonds.