After enjoying the spotlight at iFX EXPO Dubai at the beginning of the year, AAAFx takes off to Johannesburg and the Finance Magnates Africa Summit (FMAS:23). From 8 to 10 May, the AAAFx team will be at Sandton Convention Centre, Ballroom 1, booth 58.
The broker also takes pride in being the Champagne Sponsor of the event, which is for the first time held in South Africa. Promising to be one of the largest financial industry gatherings ever to be held in Africa, FMAS:23 will bring thousands of international and local thought leaders, industry professionals, affiliates, brokerages and technology providers under one roof. As such, it is the ideal launching board for AAAFx, which has been mulling plans to establish an active presence in the region.
“It is a privilege to catch up with existing partners in South Africa and make new ones, exchange and share ideas with like-minded industry leaders present at the event. As an FSCA-regulated brokerage, our goal is to be one of the leading financial service providers in the region. The Finance Magnates Africa Summit offers us a great opportunity to raise brand awareness and scale up,” AAAFx CEO Panagiotis Tanampasidis said.
South Africa has risen in recent years as one of Africa’s most tech-driven nations, with an avid interest in investments. The latest data shows that South Africa recorded a daily trading volume of more than $2.21 billion in 2019 alone.
According to Statista, digital investments are also among the fastest growing sectors in the country. It is estimated that the total digital investment amount will reach $8.67 billion in the course of 2023. Additionally, the total estimated transaction value of South Africa is expected to grow at an annual rate (CAGR) of 19% in the next four years.
Against this background, AAAFx’s decision to make a step on the South African fintech scene is a strategic step forward, allowing the company to grow organically in the region. Its FSCA license coverage gives it the legitimacy to provide its Forex and CFD trading services in South Africa, setting it on the right path to expansion.
“We’ve been looking forward to an opportunity like this for quite some time. Attending and sponsoring the Finance Magnates Africa Summit is a great way to showcase our brand and value proposition in front of distinguished industry leaders in Africa and beyond,” Head of Business Development, AAAFx Global, Somesh Kapuria said.
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