CFI Financial Group has officially launched its operations in South Africa. The company has appointed Zihaad Israfil as CEO of CFI South Africa. With nearly two decades of experience in leadership, sales, and trading, Israfil is set to lead the company’s growth and strengthen its presence in the region.

CFI Launches Cape Town Office

“Our entry into South Africa represents a significant milestone in CFI’s strategic vision for global growth,” said Hisham Mansour, Co-Founder and Managing Director of CFI Financial Group.

“We are pleased to have Israfil lead this initiative. His deep understanding of the trading landscape and his dynamic leadership will ensure our success in this important market.”

Earlier this year, CFI secured a Category 1 Financial Service Provider (FSP) license from the Financial Sector Conduct Authority (FSCA), enabling its South African subsidiary, CFI Financial (PTY) LTD, to operate legally.

According to CFI, it is focused on providing South African traders with access to advanced trading technology and a range of financial products. The South African office, located in Claremont, Cape Town, is designed to support the company’s efforts to deliver trading services to the local market.

Commenting on the appointment, Israfil said: “I am honoured to join CFI and lead its South African operations. CFI’s commitment to excellence and innovation resonates deeply with the growing financial community in South Africa.”

CFI Trading Volume and Client Increase

Meanwhile, In Q3 2024, CFI reported a trading volume of $1.03 trillion, a 34.47% increase from Q2 2024 and a 129.4% rise year-over-year, as noted by Finance Magnates. According to the report, this volume reflects the company’s recent efforts to meet market demand.

CFI’s client base also grew in Q3. Funded accounts increased by 45.93% compared to Q2, with a 128.75% rise from Q3 of the previous year. Active accounts rose by 28% this quarter and by 110% year-over-year. This growth is attributed to the company’s focus on client acquisition and retention.