Technological accessibility drives INFINOX Capital's expansion into Africa
INFINOX Capital, an online trading platform founded in London in the UK and which has international presence and market expertise, has announced that it is expanding key economic African countries, namely Namibia, Botswana, Mozambique, Tanzania and Ghana.
This follows its recent launch of operations in Nigeria, and the company’s intent to launch an African hub in South Africa in the coming months.
“For any financial institution, Africa is the place to be, “said INFINOX Capital MD Jay Mawji. He attributes this decision to the fact that the continent has a high youth population makeup combined with the improvements made through the implementation of technologies and the accessibility thereof.
“There is a strong drive to bridge the knowledge and accessibility gaps between bankers in major global financial hubs and the everyday person on their mobile device,” he said.
He added that with Africa being home to as many as 1,3-million traders - based on insights provided by ForexBrokers.co.za - INFINOX Capital believed that as technological accessibility increased, the boost in the economic standpoint of the country will result in a growth in the middle-class population with additional disposable income.
“This, we believe, will most certainly mean a surge in popularity as many realise the potential of expanding their exposure to financial markets through the investment in CFD and associated trading commodities,” he said.
“We have observed that the African markets we are expanding into are already seeing a significant increase in potential investors showing an interest in trading stocks and other products by downloading various industry-related apps, and being more financially-savvy,” he said. “This is driven by the country’s technological accessibility, having the appropriate infrastructure in place, and the right skillset of the people utilising the various platform solutions.”
INFINOX Capital said it will maximise operations from the regional offices in the specific country, based on the understanding that each market is unique and that local representation and support by convergent thinkers allows for local market knowledge, insights and expertise.
“While our expansion into key African markets indeed allows for job creation, our commitment of being a real organisation run by real people with on-the-ground presence lends to our principle of employee retention and growth,” Mawji said. “Our intention as an employer is to positively impact the lives of our employees across all regions by seeing them succeed and change their lives for the better.”
Mawji said that as the infrastructure to connect continued its reach throughout the continent, further expansion into other markets in Africa will be made possible by the launch of INFINOX Capital’s recently released trading app. “We have launched our app to make trading even more accessible in regions across Africa.”
The app will provide clients with the interactive functionality to social trade, see what other traders are doing, and follow and engage with them, he said.
“While it's great to have an online presence and an app, the process still involves the client’s money, meaning that many people may be apprehensive to invest and transact with a faceless organisation.”
Mawji noted that while it is a large firm, it acts as a small organisation, and it was for this reason that the interactive experience with local representation was important, as it added a sense of trust, comfort, personal touch and support for clients.