Accessibility drives INFINOX expansion into Africa
By Business Reporter
“FOR any financial institution, Africa is the place to be.” This is the sentiment of Jay Mawji, Managing Director of INFINOX Capital, a leading CFD trading broker with international presence and market expertise, which is announcing its expansion into 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.
Mawji 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 adds that with Africa being home to as many as 1.3 million traders, according to insights provided by ForexBrokers.co.za, INFINOX Capital believes that as technological accessibility increases, 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.
“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 says. “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’s differentiating factor is its commitment to offering clients on-the-ground support in each market, and in doing so, minimising what is done from its London-based offices. This maximises 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,” says Mawji. “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.”
As the infrastructure to connect continues its reach throughout the continent, Mawji says that further expansion into other markets in Africa is quite possible with 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. Comparable to Instagram for trading, it provides clients with the interactive functionality to social trade, see what other traders are doing, and follow and engage with them.”
“While it’s great to have an online presence and an app, the process still involves client’s money meaning that many may be apprehensive to invest and transact with a faceless organisation. INFINOX Capital, while a large firm, acts as a small organisation, and it is for this reason that the interactive experience with local representation is important, adding a sense of trust, comfort, personal touch and support for clients,” concludes Mawji.