KIG BV, the Dutch subsidiary of the Global Kapital Group (GKG), has acquired the South Africa-based financial service provider, Maru Asset Managers, which is licensed by the Financial Sector Conduct Authority (FSCA).
With this Acquisition announced on Monday, the brokerage group has entered the lucrative South African market, the second-largest economy of Africa.
Conquering Africa
Additionally, the company detailed that it was a part of its expansion initiative in the continent. In May, the group gained an Investment Dealer Licence from the Mauritius Financial Services Commission.
“We are very excited about expanding our global presence to South Africa,” said Gökhan Erkıralp, CEO at KIG BV. “The country’s fast-growing population and local market presence represent an important opportunity for us. South Africa is also the major financial center for the African continent, which will provide potential access to an increased customer base.”
GKG’s latest acquisition, Maru is an asset management company. It offers equity investment solutions to the institutional investment market. This will allow the group to offer intermediary services for shares, money market instruments, debentures and securitized debt, warrants, certificates and other instruments to South African investors.
The official press release further elaborated that the acquisition provided KIG BV with a license for bonds, derivative instruments, collective investment schemes, along with long- and short-term deposits in the African country.
“KIG BV aims to build a stronger, more innovative, and inclusive approach to international financial markets. We have already stepped into Africa with the GK Trade International in Mauritius, and today’s acquisition builds on that. Our group will continue its expansion to increase its global reach and products,” Erkıralp added.
Furthermore, apart from Africa, the group is expanding its reach to most of the major global markets. Earlier this year, it entered the United States and Australia with two acquisitions, and expanded its Turkish portfolio by purchasing a local multi-asset broker, Isik Menkul.
