Barclays Kenya Launches Stock Brokerage & High Return Derivatives

Today Barclays Bank of Kenya launched its stock brokerage subsidiary Barclays Financial Services Limited (BFSL). It will bring a new range of investment products and services to the Kenyan market. . The brokerage is led by some of Kenya’s most experienced stock brokers.  BFSL will be offering cash equity trading services, fixed income and bond trading and derivatives.  Barclays Financial Services Limited is also in the process of launching the Exchange Traded Funds (ETFs).  BFSL will be working closely with the Capital Markets Authority and the Nairobi Securities Exchange under the new NSE rules to do so. BFSL will be the first to pioneer Exchange Traded Funds in Kenya.

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Barclays Live is a key research portal that will be available to customers who are using BSFL. The research portal provides world class global research, indices, data and analytical tools, and clients sector-based research, across agriculture, business services, commodities, financial institutions, global development organizations, healthcare manufacturing, transport and logistics.

BFSL was admitted as a participant at the Nairobi Stock Exchange last year and is authorized to undertake stock brokerage activities at the NSE. BFSL is an investment bank licensed by the Capital Markets Authority. The brokerage will be part of Barclays Africa Group (BAGL), with a Pan-African stock broking operation of 330 staff.  There will be active foreign desks in 9 other African countries.

Jeremy Awori, the Managing Director, Barclays Bank of Kenya said that the brokerage will contribute to the competitive position of the Nairobi Securities Exchange. “BFSL is set to bring far more to the Kenyan market than a solid capital base, embedded continental reach and a market leading brokerage team. BFSL will offer new services, investment options and a more world class level of research for clients.”

Some of the most experienced and respected heads of brokerage will manage the team at BFSL. The team includes Anthony Wangari who will be the Senior Equity Trader and Tito Namu who will be the Senior Equity Sales Trader.  They have professional experience in the Kenyan capital market regulatory and investment industry having worked with both local and multinational players.  They will join Anthony Kirui, Barclay’s Head of Markets who has over 14 years of experience in banking and over 10 years within the Treasury and Markets Business.

At the moment Kenya is the third largest stock-market hub in Sub-Saharan Africa after the South African JSE and Nigeria’s SEC. The move into ETFs is poised to make it an even more competitive investment hub.

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